Gemini Secures CFTC Approval for U.S. Prediction Market

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In a masterstroke of bureaucratic finesse, Gemini has been bestowed with the CFTC’s coveted nod, granting it the power to dabble in binary event contracts and crypto derivatives. One might almost call it a regulatory coup. 🎩

Gemini, that ever-ambitious phoenix of the crypto cosmos, has now secured a Designated Contract Market (DCM) license from the Commodity Futures Trading Commission. This arcane credential permits its Gemini Titan platform to peddle binary event contracts, a move that positions the firm to expand its U.S. dominion with the subtlety of a sledgehammer. 🛠️

Gemini Gains DCM License After Five-Year Approval Journey

The licensing odyssey commenced on March 10, 2020-a date etched in the annals of regulatory limbo. As U.S. prediction markets swell with vigor, platforms like Kalshi and Polymarket bask in the glow of record-breaking volumes. One wonders if the CFTC’s delay was merely a test of patience. ⏳

BREAKING

– Gemini (@Gemini)

Tyler Winklevoss, Gemini’s CEO, hailed the breakthrough with the theatricality of a Shakespearean actor. “Today’s approval is the culmination of a 5-year licensing process,” he declared, as if narrating a saga of epic proportions. He further credited President Trump for dismantling the “crypto-averse” policies of his predecessor, and Acting Chairman Pham for her “visionary labor” in making America the crypto capital of the world. 🇺🇸

“It’s so incredibly refreshing and invigorating to have a President and financial regulator who are pro crypto,” Tyler added, his tone dripping with the kind of gratitude one might reserve for discovering a functioning coffee machine in a dystopian wasteland. 🕯️

Critics, with the imaginative rigor of a man describing a sunset as “a bit bright,” often equate prediction markets to gambling. Proponents, however, argue these contracts are superior oracles of market sentiment, outshining traditional forecasting methods like a Tesla outpacing a horse-drawn carriage. The approval, meanwhile, serves as a lifeline for Gemini, which stumbled post-IPO like a newborn giraffe. 🦒

Tyler, ever the dramatist, emphasized the “legal certitude” this license provides, as if the absence of it had left the firm adrift in a sea of existential dread. Yet, one suspects the real thrill lies in the promise of new revenue streams. 💸

Titan Platform to Offer Derivatives and Event Contracts

Gemini’s U.S. clientele will soon trade prediction markets via the web interface, with mobile app access forthcoming. The topics? Sports, geopolitics, and perhaps the eternal question: “Will Vladimir Putin finally retire?” 🌍

Gemini plans to let users bet on events ranging from presidential elections to the next viral TikTok dance. The company also aims to expand its derivatives offerings, including crypto futures and perpetual contracts-because why not? 🚀

This venture, Gemini insists, is a cornerstone of its “financial super app” ambitions. Imagine a one-stop shop for crypto, derivatives, and maybe even a dating feature for hodlers. 💘

Cameron Winklevoss, Gemini’s president, waxed poetic about prediction markets, claiming they could rival capital markets in scale. One imagines him scribbling equations on napkins, muttering, “The future is a numbers game.” 🎲

Despite a Q3 2025 revenue surge (52% quarter-over-quarter), Gemini’s earnings remain in the red. But fear not-the DCM license is here to rescue the narrative, like a deus ex machina in a Greek tragedy. 🎭

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2025-12-11 14:56