Gemini Gets CFTC Nod for U.S. Prediction Markets, Shares Jump Nearly 14%
Gemini Space Station, Inc. (GEMI) announced Wednesday that its affiliate, Gemini Titan, LLC, has been approved by the U.S. Commodity Futures Trading Commission (CFTC) to operate as a Designated Contract Market (DCM). The approval enables Gemini to offer regulated prediction markets to U.S. customers, expanding its product suite.
The milestone concludes a five-year licensing process, with Gemini initially applying for a DCM license on March 10, 2020. CEO Tyler Winklevoss called the approval “the beginning of a new chapter” for the exchange and praised Acting CFTC Chair Caroline Pham for supporting what he described as a vision to make the U.S. “the crypto capital of the world.”
With the DCM license, Gemini Titan can offer event contracts structured as simple 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 puts Gemini Titan among a small group of CFTC-regulated venues in the U.S., a space currently dominated by Kalshi. Meanwhile, decentralized platforms such as Polymarket continue to operate offshore without U.S. authorization.
U.S. users will initially trade these contracts via Gemini’s web interface using U.S. dollars, with mobile app access expected later. Gemini also plans to expand derivatives offerings, including crypto futures, options, and perpetual contracts, pending regulatory approval.
Gemini said the move aligns with its broader strategy to build a “one-stop financial super app,” leveraging the “wisdom of the crowd” to enhance market forecasting. The company has not yet disclosed when trading will begin.
Following the announcement, Gemini shares (GEMI) surged 13.73% in after-hours trading to $12.92.
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