Gemini receives CFTC approval, plans to enter prediction markets

robot
Abstract generation in progress

CryptoWorld News reports that Gemini Exchange has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to become a Derivatives Clearing Organization (DCO), allowing it to enter the regulated derivatives and prediction markets sector. This approval enables Gemini to clear and settle trades internally, enhancing its control over prediction market products. Gemini’s stock price rose approximately 7% after the announcement. Prediction markets have become the fastest-growing sector in the crypto industry, with trading volume expected to grow over 300% by 2025, reaching $63.5 billion. Wall Street is also getting involved, with Roundhill Investments planning to launch the first U.S. exchange-traded fund (ETF) related to prediction markets on May 5. Gemini also plans to expand into crypto futures, options, and perpetual contracts. Founder Cameron Winklevoss stated that this approval marks a significant milestone in Gemini’s market expansion.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin