Mentioned:
Gemini Space Station is ramping up their efforts to be a meaningful player in the prediction markets business. Which is exactly why they’ve just struck a new partnership with a major clearing and custody company.
What’s happening:
- Gemini Space Station (NASDAQ: GEMI) has formed a new partnership with Apex Fintech Solutions to distribute their regulated prediction markets to Apex Fintech Solutions’ brokerage customers
Why it matters:
- This is the first deal that Gemini Space Station has entered into for distribution of their crypto event contracts
Going deeper:
- Apex Fintech Solutions currently has 40M brokerage accounts and more than $265B in assets under custody
- Gemini Space Station previously made waves on Wall Street when they received a CFTC Designed Contract Market license to launch compliant event contracts and prediction markets to users within the United States
The fine print:
- Gemini Space Station and Apex Fintech Solutions' new distribution deal will only cover crypto event contracts on an exclusive basis and will not yet cover sports, economics or financial market contracts
