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. clients, according to a press release issued Wednesday.
According to the statement, Gemini first applied for a DCM license on March 10, 2020, and the company stated that 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 five-year licensing process and the beginning of a new chapter for Gemini,” CEO Tyler Winklevoss said in the news release. She thanked President Donald Trump for “ending the Biden administration’s war on cryptocurrencies” and praised CFTC acting chair Caroline Pham for helping advance what she 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 framed by simple yes or no questions tied to future outcomes. Examples given in the statement 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 allowed to offer event contracts in the US, a market currently dominated by Kalshi, which operates under the same DCM framework.
Meanwhile, decentralized platforms like Polymarket continue to provide services to offshore users without authorization from the United States.
The development adds a new regulated competitor to a sector that has attracted increasing interest as exchanges explore prediction market-style products.
The company also mentioned that US clients 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 US clients to include crypto futures, options and perpetual contracts, while noting that these products would require further development and oversight.
Gemini says its entry into prediction markets is part of a broader effort to create a “comprehensive financial super app” for clients, arguing in the press release that event contracts can harness the “wisdom of the crowd” to improve forecasts and help market participants better prepare for future outcomes.
Gemini did not specify when operations will begin in its new markets.
In after-hours trading, Gemini (GEMI) shares rose 13.73% to $12.92.
