Crypto trading platform Gemini has been granted access to the prediction market sector.

According to Mars Finance, on December 11th, cryptocurrency trading platform Gemini Space Station, Inc. (stock code: GEMI) received approval to enter the prediction market field. It is understood that Gemini received approval from the U.S. Commodity Futures Trading Commission (CFTC) this Wednesday to operate a Designated Contract Market (DCM). The prediction platform, named Gemini Titan, will initially offer classic binary event contracts, which are simple yes/no questions about future events. Gemini stated that the platform may expand to other CFTC-regulated derivatives markets in the future, such as cryptocurrency futures, options, and perpetual contracts. The statement disclosed that Gemini first applied for a DCM license on March 10, 2020. However, the application at that time did not explicitly state that Gemini intended to launch a prediction market platform. (Designated contract markets are a general term for most trading platforms registered and regulated by the CFTC.)