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- Gemini Titan wins a CFTC market license after five years.
- Prediction markets rollout will start “soon” for US users.
- GEMI stock jumped after the announcement despite a rough year.
Gemini is stepping into one of the fastest-growing corners of the crypto world after securing regulatory approval to operate a prediction market in the United States. The exchange said its affiliate, Gemini Titan, has received a designated contract market license from the Commodity Futures Trading Commission — a process that took five years to complete.
The license gives Gemini the green light to list regulated event contracts, opening the door for trading on everything from sports outcomes to geopolitical events.
A Long Road to Approval
Gemini first applied for the license back in March 2020. CEO Tyler Winklevoss called the approval “the beginning of a new chapter,” noting that the exchange can finally offer a category of products it has been working toward since before the pandemic.
US customers will soon be able to trade event contracts directly on Gemini’s web platform. The company also plans to expand its derivatives lineup with crypto futures, options, and perpetuals — part of a broader push to build a multi-product “super app.”
Prediction Markets Are Heating Up
Interest in prediction markets has surged this year as traders look for new ways to express views on real-world events. Platforms like Kalshi and Polymarket have posted record volumes in recent months. Kalshi even closed a $1 billion funding round earlier this month at an $11 billion valuation.
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Cameron Winklevoss said prediction markets could rival — or even surpass — traditional capital markets in scale. But the industry is still divisive. Critics argue the products resemble gambling, and some US states have challenged whether certain event contracts amount to unlicensed sports betting despite CFTC oversight.
A Boost for Gemini Stock
Investors welcomed the news. Gemini shares jumped 13.7% in after-hours trading to $12.92, a rare positive move for a stock that has fallen more than 64% since its September debut. The company’s first earnings report last month showed losses tied to the costs of going public.
Gemini’s entry adds even more competition to a crowded field. Trust Wallet recently rolled out its own prediction markets feature, while Coinbase appears to be preparing a Kalshi-backed platform.
The license won’t fix every challenge Gemini faces — but it does give the company something it has been missing: a clear new growth lane at a time when the crypto market is still struggling to find direction.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
