Gemini Cleared by CFTC to Launch U.S. Prediction Markets

Gemini affiliate Gemini Titan received a Commodity Futures Trading Commission designated contract market (DCM) license and will let US users trade event contracts on Gemini’s web platform soon. The firm said it may later expand US derivatives offerings to include crypto futures, options and perpetuals. Gemini applied in March 2020; executives called the approval the culmination of a five-year licensing process. Gemini’s public stock (GEMI) rose 13.7% in after-hours trading following the announcement.

AI Analysis

CFTC granted Gemini Titan a designated contract market license and Gemini said US users will be able to trade event contracts on its web platform; the firm also signaled possible future US crypto futures, options and perpetuals offerings. GEMI stock jumped 13.7% after-hours. The facts are concrete regulatory approval and an immediate market reaction.