Gemini Secures CFTC Approval to Launch Regulated U.S. Prediction Markets

Gemini Space Station, Inc., the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has received a crucial regulatory green light from the U.S. Commodity Futures Trading Commission (CFTC). On December 10, 2025, the CFTC granted Gemini's affiliate, Gemini Titan, LLC, a Designated Contract Market (DCM) license, concluding a five-year application process that began in March 2020.

This approval authorizes Gemini to operate a regulated marketplace for binary event contracts, commonly known as prediction markets, for U.S. customers. Users will be able to trade on yes/no questions related to real-world events, such as "Will 1 bitcoin end this year higher than $200k?". The initial rollout will be on Gemini's website, with a mobile app to follow. The DCM license also provides a pathway for Gemini to potentially list other regulated derivatives products in the future, including crypto futures, options, and perpetual contracts.

The regulatory milestone arrives at a critical juncture for Gemini. The company's stock has faced significant pressure since its initial public offering (IPO) in September 2025, with shares declining from a debut price of $37.01 to close at $11.36 on December 10. The expansion into regulated prediction markets and derivatives is viewed as a strategic pivot to diversify revenue streams and stabilize long-term growth.

Gemini's CEO, Tyler Winklevoss, who was recently appointed to the CFTC's CEO Innovation Council, publicly thanked former President Donald Trump for creating a regulatory environment more favorable to crypto innovation. The approval positions Gemini to compete directly with other regulated prediction market platforms like Kalshi and offshore operators like Polymarket, which have seen record trading volumes following the recent U.S. election.

The broader crypto market context adds urgency to Gemini's expansion. The sector has experienced persistent volatility, with major assets like Bitcoin (BTC) and Ethereum (ETH) seeing wide price swings, and others like Solana (SOL) undergoing sharp corrections. By offering a compliant, U.S.-regulated venue for event-driven trading, Gemini aims to capture demand from both retail and institutional participants seeking exposure without relying on unregulated offshore platforms.