Gemini Space Station (GEMI), the cryptocurrency exchange run by Cameron and Tyler Winklevoss, has received approval from the US Commodity Futures Trading Commission (CFTC) for a derivatives clearinghouse (DCO) license, allowing it to enter the cryptocurrency and regulated derivatives prediction markets, the most contested and fastest-growing sector.
The approval allows Gemini to clear and settle trades internally rather than relying on third-party providers, giving it greater control over how its prediction market products operate and scale.
Gemini shares rose about 7% following the announcement.
Prediction markets have become one of the fastest growing areas of cryptocurrencies, with trading volume set to increase more than 300% in 2025 to $63.5 billion, and Hyperliquid, a DeFi derivatives platform, is gearing up to compete with traditional companies like Kalshi and Polymarket. Wall Street is also hot, as Roundhill Investments is expected to launch the first US exchange-traded funds (ETFs) linked to prediction 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 the DCM and DCO licenses in place, Gemini is positioned to offer a complete trading ecosystem spanning sports, cryptocurrencies, futures, options and event-based contracts, the company said. Gemini also expressed its intention to expand into cryptocurrency futures, options, and perpetuals for US users.
“Today marks an important milestone in Gemini’s market expansion,” Cameron Winklevoss said in the statement, framing the development as part of a broader push toward a “super app” for financial services.
In February, Gemini made public its plans to enter the prediction markets sector 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 the United States has the largest capital markets in the world and the United States 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 current capital markets.”
