Gemini Asks US Regulators to Not Ban Event Contracts

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Gemini is urging US regulators to withdraw a proposed regulation that would ban all event contracts on decentralized prediction markets.

This rule would negatively impact prediction markets, including those used for election forecasting.

In a letter to the US Commodity Futures Trading Commission (CFTC) secretary Christopher Kirkpatrick, Gemini emphasized the importance of prediction markets and their transparency.

Co-founder Cameron Winklevoss also shared his thoughts on social media, stating that the CFTC should withdraw the proposed rule, which would essentially ban all event contracts in the US, including those traded on Polymarket, the world’s largest prediction market.