Gemini nabs US license to offer prediction markets

cointelegraphОпубликовано 2025-12-11Обновлено 2025-12-11

Введение

Crypto exchange Gemini, founded by the Winklevoss twins, has received a designated contract market license from the CFTC, allowing it to offer prediction markets in the US. Through its affiliate Gemini Titan, the company plans to let users trade event contracts and expand into crypto derivatives like futures and options. The announcement caused Gemini's stock to surge 13.7% in after-hours trading. The license marks the end of a five-year application process and could significantly boost the company, which has seen its stock decline since its public debut. President Cameron Winklevoss stated that prediction markets could potentially rival or exceed traditional capital markets in size.

Crypto exchange Gemini, founded by billionaire twins Tyler and Cameron Winklevoss, has scored a license from the Commodity Futures Trading Commission to offer prediction markets in the US.

Gemini said on Wednesday that its affiliate, Gemini Titan, received a designated contract market license from the CFTC and “plans to enter into the prediction markets space.”

The company said that “starting shortly,” its US users would be able to trade event contracts on its web platform and could expand its US derivatives offerings to include crypto futures, options, and perpetual contracts.

Gemini joins a number of crypto companies that have begun to offer prediction markets, allowing users to bet on the outcomes of a range of events, including sports and geopolitics.

Shares in Gemini (GEMI) shot up 13.7% in after-hours trading on Wednesday to $12.92 after ending the day’s trading session down 0.7%.

Shares in Gemini jumped on the company’s announcement that it will offer prediction markets. Source: Google Finance

The license could be a major boost for Gemini, whose stock is down 64.5% since its public debut on Sept. 12 as the crypto market has struggled to sustain a rally.

Related: ‘Elite’ traders hunt dopamine-seeking retail on prediction markets: 10x Research

“Prediction markets have the potential to be as big or bigger than traditional capital markets,” said Gemini’s president, Cameron Winklevoss.

Gemini CEO Tyler Winklevoss said it first applied for the license in March 2020, and the approval “marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini.”

Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?

Связанные с этим вопросы

QWhat license did Gemini receive and from which US regulatory body?

AGemini received a designated contract market license from the Commodity Futures Trading Commission (CFTC).

QWhich Gemini affiliate was specifically granted the license to operate prediction markets?

AGemini Titan, an affiliate of the crypto exchange Gemini, was granted the license.

QHow did the announcement of the license affect Gemini's stock price in after-hours trading?

AGemini's stock (GEMI) shot up 13.7% in after-hours trading to $12.92.

QAccording to Cameron Winklevoss, how big does he believe prediction markets can become?

ACameron Winklevoss stated that prediction markets 'have the potential to be as big or bigger than traditional capital markets.'

QWhen did Gemini first apply for this license, according to CEO Tyler Winklevoss?

ACEO Tyler Winklevoss said the company first applied for the license in March 2020.

Похожее

Eight Years of Entrepreneurship Notes from a16z's AI Partner

An early generative AI entrepreneur reflects on his 8-year journey building Rosebud AI, founded in 2018—a time when the field was still called “synthetic media.” Initially experimenting with models like CycleGAN and StyleGAN, he believed AI could make creation as intuitive as playing a game. Over the years, his team launched multiple products, including the viral app TokkingHeads, which gained 2 million users, learning to design around imperfect model outputs to deliver “good enough” user experiences. The evolution from niche synthetic media to general-purpose AI infrastructure—especially after GPT-4’s release—reshaped product possibilities. Code generation matured enough by 2023 to enable text-to-game prototyping. The author emphasizes that the real differentiator now isn’t just model capability but product design, distribution, and business model innovation. Having stepped down as CEO of Rosebud AI, he joins a16z as a partner focused on investing in the frontier model stack—models, infrastructure, and tools. He remains optimistic about AI-driven progress in creative tools, coding, and scientific domains. The piece concludes with a forward-looking note: the next phase of AI will be less about what’s possible and more about how capabilities are productized and scaled in the real world.

marsbit1 ч. назад

Eight Years of Entrepreneurship Notes from a16z's AI Partner

marsbit1 ч. назад

How Many Tokens Away Is Yang Zhilin from the 'Moon Chasing the Light'?

The article explores the intense competition between two leading Chinese AI companies, DeepSeek and Kimi (Moon Dark Side), and the mounting pressure on Yang Zhilin, the founder of Kimi. While DeepSeek re-emerged after 15 months of silence with its powerful V4 model—boasting 1.6 trillion parameters and low-cost, long-context capabilities—Kimi has been focusing on long-context processing and multi-agent systems with its K2.6 model. Yang faces a threefold challenge: technological rivalry, commercialization pressure, and investor expectations. Despite Kimi’s high valuation (reaching $18 billion), its revenue heavily relies on a single product with low paid conversion rates, while DeepSeek’s strategic silence and open-source influence have strengthened its market position and valuation prospects, now targeting over $20 billion. Both companies reflect broader trends in China’s AI ecosystem: Kimi aims for global influence through open-source contributions and agent-based advancements, while DeepSeek prioritizes foundational innovation and hardware independence, notably shifting to Huawei’s chips. Their competition is seen as vital for China’s AI progress, with the gap between top Chinese and U.S. models narrowing to just 2.7% on the Elo rating scale. Ultimately, the article argues that this rivalry, though anxiety-inducing for leaders like Zhilin, is essential for driving innovation and solidifying China’s role in the global AI landscape.

marsbit2 ч. назад

How Many Tokens Away Is Yang Zhilin from the 'Moon Chasing the Light'?

marsbit2 ч. назад

TechFlow Intelligence Bureau: ChatGPT Helps Amateur Mathematician Crack 60-Year-Old Problem, CFTC Sues New York Regulator Over Coinbase and Gemini

An amateur mathematician, with the assistance of ChatGPT, has solved a combinatorial mathematics puzzle originally proposed by Hungarian mathematician Paul Erdős in the 1960s. This marks another milestone in AI-aided mathematical research, demonstrating the evolving capabilities of large language models in formal reasoning. In other AI developments, OpenAI introduced a new privacy filter tool for enterprise API usage, automatically screening sensitive data. Meanwhile, the Qwen3.6-27B model achieved 100 tokens per second on a single RTX 5090 GPU using quantization, significantly lowering the cost barrier for local AI deployment. In crypto and Web3, the U.S. CFTC sued New York’s financial regulator, challenging its oversight of Coinbase and Gemini—a first-of-its-kind federal-state regulatory clash. Following a vulnerability, KelpDAO and major DeFi protocols established a recovery fund. Tether froze $344 million in assets linked to Iran’s central bank upon U.S. Treasury request, highlighting the centralized control risks in stablecoins. Separately, Litecoin underwent a 3-hour chain reorganization to undo a privacy-layer exploit. In the U.S., former President Trump invoked the Defense Production Act to address power grid bottlenecks affecting AI data centers and dismissed the entire National Science Board, raising concerns over research independence. A retail trader gained 250% on a $600k Intel options bet amid AI-related speculation. Xiaomi announced its first performance electric vehicle, targeting rivals like Tesla. Meanwhile, iPhone users reported devices automatically reinstalling a hidden app daily, suspected to be MDM-related. A Chinese securities report noted that A-share institutional crowding has reached its second-longest streak since 2007, signaling high valuations and potential style rotation. The day’s developments reflect a dual narrative: AI is enabling unprecedented individual breakthroughs, while centralized power structures—whether governmental or corporate—are becoming more assertive, underscoring that decentralization is as much a political-economic challenge as a technical one.

marsbit2 ч. назад

TechFlow Intelligence Bureau: ChatGPT Helps Amateur Mathematician Crack 60-Year-Old Problem, CFTC Sues New York Regulator Over Coinbase and Gemini

marsbit2 ч. назад

Iran’s Crypto Lifeline Hit As US Freezes $344 Million In Funds

The US Treasury has frozen $344 million in cryptocurrency tied to Iranian military and political groups, specifically targeting two Tron blockchain wallets connected to the Islamic Revolutionary Guard Corps and Hizballah. This action follows reports that Iran was collecting Bitcoin payments from ships for safe passage through the Strait of Hormuz. The freeze occurred just one day after stablecoin issuer Tether locked the same amount of funds at the request of US law enforcement. The move is part of broader US efforts to disrupt Iran's ability to generate and move funds, highlighting the limitations of using cryptocurrency as a sanctions workaround when centralized issuers comply with enforcement actions.

bitcoinist3 ч. назад

Iran’s Crypto Lifeline Hit As US Freezes $344 Million In Funds

bitcoinist3 ч. назад

Amidst the Volatility in the Crypto Market, Who is Buying Against the Trend?

"In a volatile crypto market downturn of Q1 2026, institutional players demonstrated divergent strategies. While Bitcoin fell over 25% and Ethereum dropped 35%, key institutions accumulated: corporate treasuries like Strategy (MicroStrategy) added over $10 billion in BTC, sovereign wealth funds like Mubadala increased IBIT holdings by 46%, and major banks launched crypto services and ETFs. Notably, 26 new crypto ETFs were filed or launched under streamlined SEC rules, including bank-led products from Morgan Stanley and BlackRock’s staking ETH ETF. VC funding saw concentration: total investment reached ~$5 billion, but deal count plummeted 49%. Three mega-deals—BVNK ($1.8B), Kalshi ($1B), and Polymarket ($600M)—accounted for half the quarter’s funding. Investment shifted from DeFi/NFTs to payments, prediction markets, and regulated CeFi infrastructure. Selling pressure came from hedge funds (e.g., Brevan Howard cut IBIT by 85%) and Bitcoin miners liquidating holdings. The U.S. strategic Bitcoin reserve saw zero additions, highlighting that real buying came from corporations and sovereign funds, not governments. The institutional crypto landscape is bifurcating: long-term holders accumulate while short-term traders exit, signaling a foundation for the next cycle."

marsbit4 ч. назад

Amidst the Volatility in the Crypto Market, Who is Buying Against the Trend?

marsbit4 ч. назад

Торговля

Спот
Фьючерсы
活动图片

Популярные категорииright-arrow

Популярные тегиright-arrow