Bitcoin

<ul>
 <li>Gemini urges the CFTC to withdraw their allegedly vague proposal for event contracts.</li>
 <li>The Winklevoss twins criticized the CFTC’s ban on crypto prediction markets.</li>
 <li>Tyler Winklevoss said US citizens should not be denied access to prediction platforms like Polymarket.</li>
</ul>
Tyler Winklevoss and Cameron Winklevoss, together known as Winklevoss twins, have recently urged the Commodity Futures and Trading Commission (CFTC) to withdraw their allegedly vague event contracts proposal. With the Winklevoss twins’ move, their crypto exchange <a href="https://cryptotale.org/gemini-announces-xrp-gusd-perpetual-contract-listing-whats-next/" rel="noopener noreferrer nofollow">Gemini</a> has joined Coinbase to fight against CFTC's Notice of Proposed Rulemaking <a href="https://www.cftc.gov/PressRoom/PressReleases/8907-24" rel="noopener noreferrer nofollow">issued</a> in May 2024.
In an X post on August 10, Tyler Winklevoss highlighted the consequences of CFTC’s proposed rules on event contracts. As per his post, the rules are designed to ban all event contracts in the United States, significantly impacting leading prediction markets like Polymarket. He added that US citizens should not be denied the opportunity to explore the prediction markets.

Cameron Winklevoss also shared a thread, sharing insights on Gemini’s letter that addressed the negative implications of CFTC’s proposal. Pinpointing the notion of transparency, Cameron elaborated on the importance of crypto prediction platforms like Polymarket in the ecosystem.

Recently, Coinbase, one of the leading blockchain platforms, has <a href="https://cryptotale.org/coinbase-challenges-cftc-proposal-on-event-markets/" rel="noopener noreferrer nofollow">raised its voice against CFTC’s ban on even contracts</a>, citing concerns about multiple aspects. While Coinbase slammed CFTC’s definition of “gaming,” it argued that classifying contracts as “category” is not in the public interest. In addition, Coinbase questioned the commission’s statutory authority to ban the prediction markets.
<a href="https://cryptotale.org/gemini-joins-coinbase-to-urge-cftc-to-withdraw-event-contracts-proposal/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>
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Gemini Joins Coinbase To Urge CFTC To Withdraw Event Contracts Proposal

CryptoTale

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