Gemini’s Prediction Market License: A Winklevoss Wonderland! 🎰

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In a world where foresight is often as rare as a modest billionaire, Gemini, the darling of the Winklevoss twins, has secured a license from the Commodity Futures Trading Commission to plunge into the unpredictable waters of prediction markets. 🎲

On a Wednesday that will be remembered by crypto enthusiasts and skeptics alike, Gemini Titan, Gemini’s affiliate, was bestowed with the grand title of a designated contract market by the CFTC. With the aplomb of a magician pulling a rabbit from a hat, Gemini announced its intentions to “enter into the prediction markets space.” 🎩🐇

Starting “shortly,” Gemini’s US users will be able to trade event contracts on its platform, with whispers of expanding its offerings to include crypto futures, options, and perpetual contracts. Because, of course, why stop at predicting the future when you can also bet on it repeatedly? 🤑

Gemini now joins the ranks of crypto companies dabbling in prediction markets, where users can wager on everything from sports outcomes to geopolitical chess moves. Because nothing says “responsible investing” like betting on world events. 🌍🎮

In a dramatic twist worthy of a Shakespearean play, shares in Gemini (GEMI) soared 13.7% in after-hours trading to $12.92, a delightful rebound after a 0.7% dip during the day. 📈📉 Drama, thy name is crypto!

This license could be the lifeline Gemini desperately needs, as its stock has plummeted 64.5% since its public debut on September 12. The crypto market, as fickle as a cat on a hot tin roof, has struggled to maintain any semblance of a rally. 🐱🔥

Cameron Winklevoss, president of Gemini, declared with the confidence of a man who’s never lost a wager, “Prediction markets have the potential to be as big or bigger than traditional capital markets.” Because, clearly, the world is just waiting for more ways to gamble. 🎯

Tyler Winklevoss, Gemini’s CEO, revealed that the journey to this license began in March 2020, and the approval “marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini.” A chapter that, one hopes, will be less tragic and more comedic than the last. 📖😂

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2025-12-11 04:39