Gemini Space Station, Inc. (GEMI) said its subsidiary 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 company to offer regulated prediction markets to U.S. customers, according to a press release issued Wednesday.
According to the release, Gemini first applied for a DCM license on March 10, 2020, and the company said the approval marked the end of a five-year licensing process and the start of a “new chapter” for the exchange.
“Today’s approval marks the culmination of a 5-year licensing process and the start 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 allow Gemini Titan to offer event contracts phrased as simple yes or no questions tied to future outcomes. Examples given in the release include markets on whether a 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 authorized to offer event contracts in the United States, 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 US authorization.
This development adds a new regulated competitor to a sector that is seeing growing interest as exchanges explore prediction market-style products.
The company also mentioned that US customers will be able to trade these event contracts on the Gemini web interface using US dollars held in their accounts, with mobile access via the Gemini app expected to follow. In the same statement, Gemini said that Gemini Titan plans to expand its derivatives offering for U.S. clients to include crypto futures, options and perpetual contracts, while noting that these products will require further development and monitoring.
Gemini says its entry into prediction markets is part of a broader effort to create a “one-stop financial super app” for customers, saying in the press release that event-driven contracts can leverage the “wisdom of the crowd” to improve predictions and help market participants better prepare for future outcomes.
Gemini did not say when trading on its new markets will begin.
In after-hours trading, Gemini (GEMI) stock jumped 13.73% to $12.92.
