Gemini, founded by Winklevoss twins, received a license from the CFTC to offer prediction markets in the US. Users can soon trade event contracts on the platform, with plans to expand to crypto futures, options, and perpetual contracts. Gemini’s stock jumped 13.7% after the announcement, aiming to boost their struggling market performance.

Gemini’s president believes prediction markets could rival traditional capital markets. CEO Tyler Winklevoss noted the long 5-year licensing process for the approval. The license could be pivotal for Gemini, whose stock has declined by 64.5% since its public debut. The company aims to capitalize on the potential growth of prediction markets.

Read more at Coin Telegraph: Crypto Exchange Gemini Gets US Nod for Prediction Markets