Really, it's not, even though some weenie dictionaries have now added it as such to pacify people who insist on "verbifying" it. (sorry)

You give someone a gift.  You don't "gift them".

You receive a gift.  You weren't "gifted" (but perhaps if you insist that you are, then you are gifted in a different way… Ahem)

A present is given to somebody for an occasion.  It's not "gifted".

Now some may claim that the english language is a moving, evolving thing.  If we're going that way, then I propose:

"chairing" – a new term meaning to be seated in a chair

"caring" – driving somewhere in a car (yes, this may cause confusion with showing care, but the language is evolving – get over it)

"webbing"  – surfing the world wide web

"inaning" – wasting your time reading my dumb posts