If you have more than one fruit give it a try. If you remove the hard casing around the seed, it will germinate much faster. Or it will rot much faster. The tree will probably tend to shoot up much more and be lanky without pruning. Go ahead and give it a try.
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Tall lanky meiwa kumquat tree grown from seed

Thanks for the advice and the pictures poncirusguy. I'll try and see what happens. Have a nice Memorial Day weekend!

the fruit is not ripe until it's orange and about an inch in diameter. you need to wait.

While it does turn orange when ripe, many people use it for juice when it's still green. Just a note!