The Federal Reserve has reduced its benchmark interest rate by 25 basis points, setting the new range at 3.50% to 3.75%. This decision aligns with the Fed's dot plot projections, which anticipate further 25-basis-point cuts in 2026 and 2027. In a separate development, Gemini has received approval from the Commodity Futures Trading Commission (CFTC) to launch a prediction market. This approval could pave the way for Gemini to expand its offerings to include crypto futures, options, and perpetual contracts, marking a significant step in its market capabilities.