U.S. CFTC Greenlights Gemini Prediction Markets, Stock Climbs 14%

Gemini Gets CFTC Approval for U.S. Prediction Markets, Stock Jumps Nearly 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 approval allows the firm to offer regulated prediction markets to U.S. customers, expanding its product lineup.

Gemini first applied for a DCM license on March 10, 2020, marking the end of a five-year licensing process. CEO Tyler Winklevoss described the milestone as “the beginning of a new chapter” for the exchange and praised Acting CFTC Chair Caroline Pham for advancing what he called the vision of making the U.S. “the crypto capital of the world.”

Under the new license, Gemini Titan can offer event contracts structured as yes-or-no questions on future outcomes. Examples include whether Bitcoin will close the year above $200,000 or whether Elon Musk’s X will pay a $140 million fine to the European Commission by 2026.

Gemini Titan now joins a small group of CFTC-regulated venues in the U.S., a market currently dominated by Kalshi, while decentralized platforms such as Polymarket continue to serve offshore users 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 app access 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 oversight.

The company frames this expansion as part of a broader effort to create a “one-stop financial super app,” arguing that prediction markets leverage the “wisdom of the crowd” to improve forecasting and decision-making. Gemini has not yet announced when trading will begin.

Following the announcement, Gemini stock (GEMI) surged 13.73% in after-hours trading to $12.92.

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