Gemini Teams With Apex to Expand Prediction Market Footprint

Cryptocurrency exchange Gemini has teamed up with Apex FinTech Solutions to broaden its prediction markets services. As part of the agreement, Gemini's Gemini Titan will act as the sole regulated platform for crypto event contracts distributed by Apex to its brokerage clients. Gemini's CEO, Tyler Winklevoss, explained that they decided to develop their predictions platform in-house due to their extensive experience in creating a regulated platform for this new asset class.

Gemini believes that predictions will become the future of markets, and this partnership enables them to expand their offerings and provide access to trusted partners like Apex as the demand for event contracts increases. Brokerages that offer crypto event contracts through Apex's FCM will utilize Gemini for execution and clearing.

While focusing on crypto, Gemini also allows Apex to collaborate on additional contract categories, such as sports, economics, and financial markets, on a non-exclusive basis. This collaboration comes after Gemini's Gemini Olympus subsidiary secured a Commodity Futures Trading Commission (CFTC) derivatives clearing organization (DCO) license in April, integrating derivatives clearing and settlement for Gemini Titan in-house, and landing a designated contract market (DCM) license from the CFTC in December, enabling Gemini to launch prediction trading.