We are excited to announce that @Gemini has received a Derivatives Clearing Organization (DCO) license from the @CFTC. This license allows us to act as a clearinghouse for regulated derivatives trading, including prediction markets.
This approval follows our approval last December for a Designated Contract Market (DCM) license, which allowed us to launch Gemini Predictions. Now, with our DCO, the predictions that trade on our DCM will soon clear through our DCO.
This marks a major milestone in our marketplace expansion. In addition to our crypto spot marketplace, Gemini now has a full-stack, end-to-end marketplace for predictions as well as futures, options, and more. This is also a major building block for our super app, where users will be able to fulfill their existing and future financial needs all in one place. Onward!
https://t.co/qc1qqBEDty
JUST IN: ๐บ๐ธ The US Senate vote on the Crypto Market Structure bill (CLARITY Act) has been rescheduled to Thursday, due to a major snowstorm in Washington.
Gemini operates the only prediction market DCM backed by a U.S. public company. We built it from the ground up, and went from initial filing to live trading in under a year.
Introducing Gemini Predictions, now live across all 50 US states ๐บ๐ฒ
Users can trade on outcomes of real world events with near instant execution and full transparency.
โTis the season to earn more ๐
For the next 12 days, earn 5% back on everything using the Gemini Credit Card
Because every holiday purchase should come with a little extra cheer
Or they could allow player prop bet parlays, with restrictions: no players from the same team can be parlayed together.
This would make player prop bets much harder to game.
Huge Development! The adoption of stablecoins as margin collateral paves the way for 24/7 instant settlement and continuous liquidity in our derivative markets. I applaud the @CFTC for taking on this forward-thinking initiative. ๐๐ผ
Market makers can profit by selling call options, collecting premiums, and shorting a stock to keep its price within a range, which may be happening with the second-largest public Bitcoin holder $MARA.
This practice is legal when done for risk management purposes, such as hedging, but illegal if the intent is to artificially suppress the price to mislead investors or distort the market. Intent is very difficult to prove.