Gemini Space Station (GEMI), the crypto exchange run by Cameron and Tyler Winklevoss, has received approval from the US Commodity Futures Trading Commission (CFTC) for a Derivatives Clearing House (DCO) license, allowing it to enter the regulated derivatives and prediction markets of the fastest growing and most contested crypto sector.
The approval allows Gemini to clear and settle trades internally instead of relying on external providers, giving it greater control over the operation and scale of its prediction market products.
Gemini shares rose about 7% after the announcement.
Prediction markets have become one of the fastest growing areas in crypto, with trading volume increasing by over 300% in 2025 to $63.5 billion, and Hyperliquid, a DeFi derivatives platform, is gearing up to compete with incumbents such as Kalshi and Polymarket. Wall Street is also in on the action, with Roundhill Investments set to launch the first U.S. exchange-traded funds (ETFs) linked to predictive markets on May 5, while two other asset managers are preparing similar products.
The approval builds on the crypto firm’s December 2025 debut of a prediction market through another subsidiary, Gemini Titan, which received a Designated Contract Market (DCM) authorization from the CFTC.
With DCM and DCO licenses in place, Gemini is able to offer a comprehensive trading ecosystem spanning sports, crypto, futures, options and event-based contracts, the company said. Gemini also expressed plans to expand into crypto futures, options, and perpetuals for U.S. users.
“Today marks a major milestone in Gemini’s market expansion,” Cameron Winklevoss said in the release, framing the development as part of a broader initiative toward a “super app” for financial services.
In February, Gemini made public its plans to enter the prediction markets business and focus solely on the United States when it announced its exit from the United Kingdom, the European Union and Australia, which included a staff reduction of approximately 25%.
“The reality is that America has the largest capital markets in the world and America has always been where it is for Gemini,” the founders said, adding that their “thesis is that prediction markets will be as big or bigger than today’s capital markets.”
