How did he get his powers, if he has powers? 
 

bump

he was bitten by a radioactive spider??

No one knows yet. 

Has the issue with him even come out yet?

Organic webs. Origin to be detailed later. Somehow connected to puny Parker.

He was bitten by a radioactive Spider-Man.

He was bitten by a radioactive Spider-Man.

I think we'll find out more about his origins in Ultimate Fallout #5. For now it's unknown.

He might be a mutant. He is only 13.

Right now it's a mystery over time we'll know the truth.

Got the issue the other day. He seems to be experiencing what looks like "spider sense", but he doesn't know what the hell it is.

his mom was human and his dad was a radioactive spider

is he gay? i heard some people talking bout him being like actually gay

@Weapon-Alpha said:

is he gay? i heard some people talking bout him being like actually gay

It's rumored with the whole "diversity" angle they are going with. Not confirmed.

I have a feeling he'll be a mutant just to add to his diversity. Can't be more of a minority than that.

Stephen Colbert quipped that he must either be a black man who was bitten by a radioactive Latino or a Latino who was bitten by a radioactive black man. 
 
My guess hes that he either doesn't have powers and is just like some sort of crazy ninja kid or that he got ahold of some Osborn Industries research and bred himself some super-spiders to get bitten by.

@Edgeworth_11: Extremely similar origin to Peter Parker. Norman Osborn created another "Oz" spider labeled with the number 42 (the spider that bit Pete was number 00). Miles has a wide range of spider abilities and has yet to web sling.