Gemini Approved by CFTC to Offer U.S. Prediction Markets, Stock Surges Nearly 14%

Gemini Space Station, Inc. (GEMI) said 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), allowing the firm to offer regulated prediction markets to U.S. customers, according to a press release issued Wednesday.

Per the release, Gemini first applied for a DCM license on March 10, 2020, and the company stated the approval marks the end of a five-year licensing process and the beginning of “a new chapter” for the exchange.

“Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini,” CEO Tyler Winklevoss said in the press release. He thanked President Donald Trump for “ending the Biden Administration’s War on Crypto” and praised Acting CFTC Chair Caroline Pham for helping advance what he called the president’s vision of making the United States “the crypto capital of the world,” according to the statement.

Gemini said the new DCM license will enable Gemini Titan to offer event contracts framed as simple yes-or-no questions tied to future outcomes. Examples given in the release include markets on whether one 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 the small number of CFTC-regulated venues permitted to offer event contracts in the U.S., a market currently dominated by Kalshi, which operates under the same DCM framework.

Meanwhile, decentralized platforms such as Polymarket continue to serve offshore users without U.S. authorization.

The development adds a new regulated competitor to a sector that has drawn increasing interest as exchanges explore prediction-market-style products.

The company also mentioned that U.S. customers will be able to trade these event contracts on Gemini’s web interface using U.S. dollars held in their accounts, with mobile access via the Gemini app expected to follow. In the same release, Gemini said Gemini Titan plans to expand its derivatives offering for U.S. customers to include crypto futures, options, and perpetual contracts, while noting that these products would require further development and oversight.

Gemini says its move into prediction markets is part of a broader effort to build a “one-stop financial super app” for customers, arguing in the press release that event contracts can leverage the “wisdom of the crowd” to improve forecasting and help market participants better prepare for future outcomes.

Gemini did not specify when trading in its new markets will begin.

In after-hours trading, Gemini stock (GEMI) surged 13.73% to $12.92.