Gemini shares surge on potential prediction market challenge to Kalshi, Polymarket, Hyperliquid
Gemini secured a derivatives clearinghouse license from the CFTC, enabling expansion into prediction markets and causing its shares to rise by 7%.Summary
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has received U.S. Commodity Futures Trading Commission (CFTC) approval for a derivatives clearinghouse (DCO) license. This authorization allows the firm to clear and settle trades in-house, positioning it to compete directly with platforms like Kalshi, Polymarket, and Hyperliquid in the rapidly growing prediction market sector. Following the announcement, Gemini shares climbed approximately 7%. The company plans to leverage its new regulatory standing to build a full-stack trading ecosystem offering sports, futures, options, and event-based contracts, reflecting the founders' goal of evolving the exchange into a comprehensive financial services "super app."
(Source：CoinDesk)