Gemini Secures 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 move allows Gemini to offer regulated prediction markets to U.S. customers, expanding its financial product offerings.
The approval concludes a five-year licensing process that began when Gemini applied for a DCM license in March 2020. CEO Tyler Winklevoss described the milestone as “the beginning of a new chapter” and praised Acting CFTC Chair Caroline Pham for supporting what he called a vision to make the U.S. “the crypto capital of the world.”
Under the license, Gemini Titan can offer event contracts framed as yes-or-no questions on future outcomes, such as whether Bitcoin will finish 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 joins a select group of CFTC-regulated venues in the U.S., a market currently led by Kalshi, while decentralized platforms like Polymarket continue to operate offshore without U.S. authorization.
U.S. users will initially trade these contracts on Gemini’s web platform using U.S. dollars, with mobile app access expected later. Gemini also plans to expand derivatives offerings to include crypto futures, options, and perpetual contracts, pending further regulatory approval.
The company frames the move as part of its broader strategy to build a “one-stop financial super app,” leveraging the “wisdom of the crowd” to enhance forecasting and market insights. Trading start dates have not been disclosed.
Following the announcement, Gemini shares (GEMI) jumped 13.73% in after-hours trading to $12.92.
