Gemini urges CFTC to withdraw proposal for event contracts

Gemini, a cryptocurrency exchange, is urging the US Commodity Futures Trading Commission (CFTC) to withdraw proposed regulations that would ban all event contracts for decentralized prediction markets.Gemini co-founder Cameron Winklevoss emphasized that these cryptocurrency prediction platforms provide transparency and integrity that other platforms cannot match, especially in predicting elections. Winklevoss believes that the CFTC should withdraw this proposal and that decentralized prediction markets are an important innovation with public utility.