Gemini gains CFTC approval to run its own derivatives clearinghouse, boosting control over crypto prediction markets.

Gemini received approval from the U.S. Commodity Futures Trading Commission to operate its own regulated derivatives clearinghouse, allowing it to clear and settle trades internally. This move enhances Gemini's control over its prediction market products and supports future expansion into crypto derivatives like perpetual futures. The approval comes amid legal challenges over prediction markets and follows a significant drop in Gemini's stock since its IPO. Gemini aims to diversify beyond crypto by adding equities trading to stabilize revenue and improve customer offerings.