Gemini Approved by CFTC to Launch U.S. Prediction Markets, Shares Jump 14%
Gemini Space Station, Inc. (GEMI) announced Wednesday that its affiliate, Gemini Titan, LLC, has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a Designated Contract Market (DCM). The move allows Gemini to offer regulated prediction markets to U.S. users, broadening its product offerings.
The approval concludes a five-year licensing process that began when Gemini applied for a DCM license on March 10, 2020. CEO Tyler Winklevoss called it “the beginning of a new chapter” for the exchange and praised Acting CFTC Chair Caroline Pham for advancing what he described as a vision to make the U.S. “the crypto capital of the world.”
Under the new license, Gemini Titan can offer event contracts framed as yes-or-no questions on future outcomes. Examples include whether Bitcoin will end the year above $200,000 or whether Elon Musk’s X will pay a $140 million fine to the European Commission by 2026.
The approval places Gemini Titan among a select group of CFTC-regulated venues in the U.S., a space currently led by Kalshi. Decentralized platforms like Polymarket continue to operate offshore without U.S. authorization.
U.S. customers will initially be able to trade these contracts via Gemini’s web interface using U.S. dollars, with mobile access via the Gemini app expected later. Gemini also plans to expand its derivatives offerings for U.S. users to include crypto futures, options, and perpetual contracts, pending further development and regulatory approval.
Gemini frames its entry into prediction markets as part of a broader goal to build a “one-stop financial super app,” leveraging the “wisdom of the crowd” to enhance forecasting and market insights. The company has not yet provided a launch date for trading.
Following the announcement, Gemini shares (GEMI) surged 13.73% in after-hours trading to $12.92.
