The Commodity Futures Trading Commission has approved Gemini to operate U.S. prediction markets, a regulatory clearance that could reshape how event-driven contracts are offered to U.S. participants.
Gemini Space Station announced that its affiliate, Gemini Titan, has received authorization from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a Designated Contract Market (DCM). This approval gives the exchange the green light to offer regulated prediction markets to U.S.-based customers, marking a significant milestone in the company’s product expansion roadmap.
According to the company, the application for DCM status was originally filed on March 10, 2020, making the approval the culmination of a five-year process. Gemini described the decision as the beginning of “a new chapter” for the exchange as it seeks to grow its footprint in regulated financial products.
CEO Tyler Winklevoss welcomed the news, thanking President Donald Trump for “ending the previous administration’s war on crypto” and praising Acting CFTC Chair Caroline Pham for advancing what he called the president’s vision of making the United States “the crypto capital of the world.”
A landmark approval that expands Gemini’s regulated product suite
The newly granted license allows Gemini Titan to list event contracts structured as simple yes-or-no questions tied to future outcomes. Examples include markets on whether Bitcoin will end the year above $200,000, or whether Elon Musk’s platform X will pay a $140 million fine to the European Commission by 2026.
The move places Gemini Titan among a short list of CFTC-regulated venues permitted to offer these products in the U.S., a space currently led by Kalshi. Meanwhile, decentralized prediction platforms like Polymarket continue operating offshore without domestic authorization.
Gemini stated that U.S. users will be able to trade the new contracts via the exchange’s web interface using U.S. dollar balances, with mobile functionality arriving later. The firm also revealed plans to expand its derivatives offering for American customers to include crypto futures, options, and perpetuals, though those products remain subject to further development and regulatory clearance.
The company framed its entry into prediction markets as part of a broader effort to build a “one-stop financial super app,” arguing that event-based contracts can harness the “wisdom of the crowd” to improve forecasting and help users prepare for potential future outcomes.
Although no launch date was provided, investor reaction was strong: Gemini’s stock (GEMI) surged 13.73% in after-hours trading, closing at $12.92.
