Gemini Space Station, Inc. announced that its affiliate Gemini Titan, LLC has obtained approval from the U.S. Commodity Futures Trading Commission (CFTC) to function as a Designated Contract Market (DCM). This will enable the firm to provide regulated prediction markets to U.S. customers, as detailed in a press release issued on Wednesday.
According to the release, Gemini submitted its DCM license application on March 10, 2020, and the firm stated that this approval concludes a five-year licensing journey and opens a “new chapter” for the exchange.
“Today’s approval signifies the conclusion of a 5-year licensing journey and a new beginning for Gemini,” CEO Tyler Winklevoss remarked in the press release. He expressed gratitude to President Donald Trump for “ending the Biden Administration’s War on Crypto” and commended Acting CFTC Chair Caroline Pham for supporting the president’s vision of transforming the United States into “the crypto capital of the world,” as per the statement.
With the new DCM license, Gemini Titan will be able to offer event contracts framed as straightforward yes-or-no inquiries linked to future outcomes. Examples in the release include markets on whether one bitcoin will close the year above $200,000 or if Elon Musk’s X will pay a $140 million fine to the European Commission by 2026.
This approval positions Gemini Titan among a select group of CFTC-regulated platforms authorized to provide event contracts in the U.S., a market currently led by Kalshi, which operates under the same DCM structure.
In contrast, decentralized platforms like Polymarket continue to cater to offshore users without U.S. authorization.
This development introduces a new regulated competitor in a sector that is gaining momentum as exchanges explore prediction-market-style offerings.
Additionally, the company noted that U.S. customers will have the ability to trade these event contracts on Gemini’s web interface using U.S. dollars in their accounts, with mobile access through the Gemini app anticipated to follow. In the same announcement, Gemini highlighted that Gemini Titan aims to broaden its derivatives offerings for U.S. customers to include crypto futures, options, and perpetual contracts, while noting that these products will necessitate further development and regulatory oversight.
Gemini claims its entry into prediction markets is part of a larger initiative to establish a “one-stop financial super app” for users, arguing in the press release that event contracts harness the “wisdom of the crowd” to enhance forecasting and assist market participants in better preparing for future scenarios.
Gemini did not disclose when trading in its new markets will commence.
