Gemini Gains CFTC Approval to Launch U.S. Prediction Markets, Stock Surges 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 suite of financial products.

The approval follows a five-year licensing process that began when Gemini first applied for a DCM license on March 10, 2020. CEO Tyler Winklevoss described the milestone as “the beginning of a new chapter” for the exchange, thanking Acting CFTC Chair Caroline Pham and crediting the Trump administration for advancing what he called the vision of making the U.S. “the crypto capital of the world.”

Under the new license, Gemini Titan will be able to offer event contracts structured as simple yes-or-no questions on future outcomes. Example markets cited in the release include 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.

This places Gemini Titan among a select group of CFTC-regulated venues permitted to offer event contracts in the U.S., a space currently dominated by Kalshi. Meanwhile, decentralized platforms like Polymarket continue to serve offshore users without U.S. authorization.

Gemini said U.S. customers will be able to trade these contracts on its web interface using U.S. dollars, with mobile access via the Gemini app expected in the future. Gemini Titan also plans to expand its derivatives offerings for U.S. users to include crypto futures, options, and perpetual contracts, pending regulatory approval.

The company frames its move into prediction markets as part of a broader strategy to create a “one-stop financial super app,” leveraging the “wisdom of the crowd” to improve forecasting and decision-making for market participants. The firm has not yet announced when trading in its new markets will commence.

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