Winklevoss Twins' Gemini Space Station Joins Prediction-Markets Race
By Katherine HamiltonThe Winklevoss twins are entering into prediction markets.Gemini Space Station, a cryptocurrency company founded by Cameron and Tyler Winklevoss, said Wednesday that its affiliate Gemini Titan has received a designated contract market license.The license from the Commodities Futures Trading Commission allows Gemini to offer prediction markets to U.S. customers.Gemini plans to start out offering event contracts with simple yes or no questions about future events. Questions could include topics such as bitcoin's valuation or fines faced by Elon Musk's social media platform X, Gemini said."Prediction markets have the potential to be as big or bigger than traditional capital markets," Cameron Winklevoss, the company's president, said.Gemini first applied for the license in March of 2020.Prediction markets have gained traction since the 2024 presidential election. Contract futures about sports events have been especially lucrative for platforms like Kalshi, and online sports betting companies FanDuel and DraftKings launched prediction markets products this year.Write to Katherine Hamilton at [email protected]