Cryptocurrency Exchange Gemini to Enter Prediction Markets with CFTC Approval

On October 10, cryptocurrency exchange Gemini announced that it had received approval from the U.S. Commodity Futures Trading Commission (CFTC) for a Designated Contract Market (DCM) license.

This approval allows the company's affiliate, Gemini Titan, to enter the prediction market business, following approximately five years of review since the application was filed in March 2020.

Gemini Titan will start its prediction market operations with binary event contracts, which allow users to bet on 'yes' or 'no' outcomes for future events. U.S. customers of Gemini will soon be able to trade these event contracts using their USD balances through a web interface, with mobile app access to follow...