Hassan Maishera
TL;DR
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CFTC has granted approval to Gemini Titan to operate as a Designated Contract Market.
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The license would allow Gemini to offer regulated prediction markets to U.S. customers.
Gemini to Offer Regulated Prediction Markets to U.S. Customers
Gemini Space Station, Inc. (GEMI) announced on Wednesday that its affiliate Gemini Titan, LLC, has received approval from the U.S. Commodity Futures Trading Commission (CFTC).
This approval will allow Gemini Titan to operate as a Designated Contract Market (DCM), allowing the firm to offer regulated prediction markets to U.S. customers.
While commenting on this latest development, CEO Tyler Winklevoss stated that,
“Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini," remarked Gemini’s CEO, Tyler Winklevoss. “We thank President Trump for ending the Biden Administration’s War on Crypto and Acting Chairman Pham for her hard work and dedication to help realize President Trump’s vision for making America the crypto capital of the world. It's incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.”
The new DCM license will enable the company to offer contracts framed as simple yes-or-no questions tied to future outcomes. It also makes Gemini Titan one of the few CFTC-regulated platforms allowed to offer event contracts in the U.S., a market currently dominated by Kalshi.
The predictions market remains one of the fastest-growing in the Web3 ecosystem, with Kalshi and Polymarket the two leading platforms. While Kalshi is regulated by the CFTC, Polymarket is a decentralized platform that serves offshore users without U.S. authorization.
According to Gemini, its U.S. customers will be able to trade the event contracts on Gemini’s web interface using U.S. dollars held in their accounts, with mobile access via the Gemini app expected to follow.
Furthermore, Gemini Titan plans to expand its derivatives offering for U.S. customers to include crypto futures, options, and perpetual contracts. However, these products would require further development and oversight, the company added.
Gemini concluded that the license is part of its broader effort to build a “one-stop financial super app” for customers. However, the company didn’t specify when trading in the new markets will commence.
