Gemini Titan Obtains CFTC License to Launch Regulated U.S. Prediction Markets
Gemini Titan has secured a Designated Contract Market license from the U.S. Commodity Futures Trading Commission (CFTC) to operate regulated prediction markets in the United States. Operating under Gemini Space Station, Inc., customers will initially be able to trade via a web interface using USD balances, with a mobile app planned for the future.
This approval concludes a five-year licensing process, with Acting Chair Caroline Pham announcing the CEO Innovation Council, which features Tyler Winklevoss and leaders from Polymarket, Kalshi, Nasdaq, and CME Group. Gemini's regulated markets will compete with Kalshi and Polymarket, the latter having recently been cleared to resume U.S. operations after operating offshore in 2022.
Gemini plans to expand its offerings to include crypto futures, options, and perpetual contracts for U.S. traders. Sample markets include predictions such as Bitcoin ending the year above $200,000 and outcomes of regulatory events. CEO Tyler Winklevoss attributed this regulatory shift to the Trump administration's conclusion of the prior administration's war on crypto.
According to data from Myriad Markets, 80% of users consider prediction markets as the crypto segment with the most upside potential. Following the announcement, Gemini's stock rose approximately 13.7% in after-hours trading but remains about 70% below its opening IPO price.
