Gemini Approved by CFTC to Offer U.S. Prediction Markets, Stock Surges Nearly 14%
PositiveCryptocurrency
- Gemini has received approval from the Commodity Futures Trading Commission (CFTC) to offer prediction markets in the United States, resulting in a nearly 14% surge in its stock price. This regulatory green light allows the company to expand its services and engage U.S. customers through its subsidiary, Gemini Titan.
- The approval is significant for Gemini as it marks a pivotal moment in its recovery from previous financial setbacks, including a notable decline in stock value earlier this year. This new license is expected to enhance its market position and attract more users.
- The development reflects a broader trend in the cryptocurrency sector, where regulatory approvals are becoming increasingly crucial for market players. As companies like Polymarket also gain similar approvals, the landscape for prediction markets in the U.S. is evolving, potentially leading to increased competition and innovation in the industry.
— via World Pulse Now AI Editorial System
