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Gemini Prepares to Offer Prediction Market Contracts

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is planning to launch prediction market contracts, a product that has gained popularity recently. These contracts, which are a form of derivatives, derive their value from future event outcomes. This move comes as the prediction market sector has seen significant interest, especially during the 2024 U.S. election, where over $8 billion in bets were made on platforms like Polymarket. With this anticipation, other firms, including Trump's Truth Social, are also looking to enter this market. Approval from the U.S. Commodity Futures Trading Commission (CFTC) will be necessary for Gemini's application to offer these contracts, a process that can take several months. No immediate comments were provided by Gemini regarding this initiative.

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