Gemini’s Titan platform is launched more than five years after the first DCM application.
Gemini Space Station announced Wednesday that its subsidiary Gemini Titan has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate a Designated Contract Market (DCM).
The decision opens the door for the exchange to offer regulated prediction markets in the United States.
Gemini Titan debuts on prediction markets
The launch marks Gemini’s first entry into the fast-growing event contracts sector, where traders buy and sell binary ‘yes or no’ positions tied to future outcomes. Gemini, which first applied for a DCM license in March 2020, had not previously disclosed that the application would form the basis for a standalone prediction market platform.
US customers will initially access the contracts through Gemini’s website using existing USD balances, with mobile access expected to follow. The move puts Gemini in a competitive field led by Kalshi and Polymarket, platforms that saw trading volumes rise during last year’s US election cycle and have continued to rise since President Donald Trump took office.
The industry has been shaped by years of cautious CFTC oversight, including enforcement actions such as the previous ban on Polymarket and severe restrictions on politically themed markets. A recent legal victory by Kalshi against the CFTC over event contracts has widened the regulatory path for platforms looking to expand into categories like sports and economic forecasting.
Gemini CEO Tyler Winklevoss Thank you Trump for “ending the Biden administration’s war” on the sector, adding that “it is incredibly refreshing and energizing to have a president and a financial regulator who are pro-crypto, pro-innovation and pro-America.”
Meanwhile, the exchange’s president, Cameron Winklevoss, said:
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“Prediction markets have the potential to be as large or larger than traditional capital markets. Acting Chairman Pham understands this vision and its importance. Unlike her predecessor, Acting Chairman Pham has positioned the CFTC as a pro-business, pro-innovation regulator that will enable America to lead in these new and exciting markets.”
The official press release also revealed that Gemini Titan could later expand its derivatives offering to include crypto futures, options and perpetual contracts, products that are widely traded in Asia but have historically been limited in the United States due to regulatory hurdles.
CFTC warms up to prediction markets
The prediction markets are gaining momentum in Washington as the CFTC, now led by acting chair Caroline Pham during Trump’s second term, has adopted a more welcoming approach to the industry. In October, CryptoPotato reported that Trump Media and Technology Group said it would launch a prediction market within Truth Social through an exclusive partnership with Crypto.com.
The new feature, called Truth Predict, allows users to trade contracts on elections, inflation movements, commodity prices and sports results. Crypto.com CEO Kris Marszalek said the industry could grow into a “multi-deca-billion-dollar” market.
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