Gemini Titan gains CFTC approval for prediction markets, boosting its stock.

Gemini Titan, an affiliate of the Winklevoss twins’ crypto exchange Gemini, has received a CFTC-designated contract market license, allowing it to offer U.S. customers prediction markets with yes-or-no contracts on events like Bitcoin’s price or regulatory actions. The approval, granted after a five-year application process, marks a major step for the company as it expands into derivatives and aims to build a full crypto "super app." The news boosted Gemini’s stock 13.7% to $13.10 in after-hours trading. The move comes amid rising interest in prediction markets following the 2024 election, with platforms like Kalshi, FanDuel, and DraftKings also entering the space, though the sector remains largely unregulated and faces scrutiny over oversight and taxation.