"Tyler and Cameron Winklevoss are taking Gemini Space Station Inc. into the prediction market space. The cryptocurrency exchange's CEO and president, respectively, said on Thursday that the Commodity Futures Trading Commission (CFTC) has granted a Designated Contract Market (DCM) license to a company affiliate called Gemini Titan, LLC. Gemini Titan will offer event contracts written as yes-or-no questions about future occurrences, essentially letting U.S. users gamble on the outcomes of everyday events."
"Tyler Winklevoss credited the approval to President Trump "for ending the Biden Administration's War on Crypto." He also thanked the CFTC's acting chairman, Caroline D. Pham, for her "hard work and dedication to help realize President Trump's vision for making America the crypto capital of the world." Tyler Winklevoss continued his fawning: "It's incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.""
Gemini received a Commodity Futures Trading Commission Designated Contract Market license for an affiliate called Gemini Titan, enabling U.S. customers to trade event contracts framed as yes-or-no questions. Gemini Titan will let users place dollar-denominated wagers on outcomes of future events, with example questions including whether bitcoin will finish the year above $200,000 and whether X will pay a large European fine in 2026. The license was granted after an application submitted March 10, 2020. Gemini's shares jumped about 16% in after-hours trading but remain over 64% below their post-IPO high. The company announced the product is starting shortly.
Read at Fast Company
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