Gemini Wins CFTC Approval to Launch Titan Prediction Market
What Does the New CFTC Licence Allow Gemini to Do?
Gemini Space Station, Inc. has received approval from the Commodity Futures Trading Commission to operate a Designated Contract Market (DCM), clearing the way for the company’s entry into the rapidly growing prediction market sector. The licence will support the launch of Gemini Titan, a platform built around binary event contracts that allow users to trade on simple yes-or-no outcomes. Gemini said Titan may later broaden its catalogue to include crypto futures, options and perpetuals, subject to CFTC oversight.
The approval gives Gemini the identical core regulatory footing held by firms such as Kalshi, Polymarket’s U.S. counterpart, and major futures venues. A DCM licence covers a wide range of platform functions, from order matching to clearing integrations, and is considered the primary route for U.S. companies looking to operate regulated prediction markets or derivatives marketplaces.
Gemini first applied for a DCM licence in March 2020, long before the breakout year for prediction platforms. At the time, the company did not publicly frame the application as a step toward launching an event-contract marketplace, and the sector was far smaller than it is today. The backdrop has changed sharply as U.S. interest in political and has surged.
Investor Takeaway
Why Prediction Markets Are Drawing New Entrants
The sector expanded rapidly during the last U.S. election cycle, with Kalshi and Polymarket posting record volumes in October and November. Activity has remained high since returned to office, and both platforms are tracking strong turnover again this month, according to data from The Block.
For years, the CFTC kept a tight grip on the space. Polymarket was banned, and Kalshi’s new contract proposals were approved sluggishly. That stance shifted later than Kalshi won a , giving the platform more latitude to list markets connected to policy, elections and sports.
Under the new regulatory climate, more platforms are preparing to enter. Crypto.com is building branded prediction markets for partners; Coinbase is testing code for a prediction module inside its wallet; and Robinhood has, at times, accounted for more than half of Kalshi’s market volumes through distribution flows.
Trump’s second term has also influenced the regulatory tone. has expressed support for the category, and Trump’s own social media company plans to launch a reality Social prediction platform with Crypto.com.
“Prediction markets have the potential to be as large or largeger than traditional capital markets. Acting Chairman Pham understands this vision and its importance,” Gemini President Cameron Winklevoss said. “Unlike her predecessor, Acting Chairman Pham has positioned the CFTC as a pro-business, pro-innovation regulator that will allow America to lead in these new and exciting markets.”
What Titan Will Offer at Launch
Gemini Titan will debut with binary event contracts — a format that has become the standard for prediction markets. These contracts let users trade on outcomes tied to elections, macro events or scheduled announcements. The structure mirrors how Kalshi and Polymarket operate, though Gemini’s CFTC-regulated status places it firmly inside the U.S. derivatives framework.
The platform’s future roadmap includes the possibility of crypto futures, options and perpetual swaps, areas where Gemini already has experience through its broader platform operations. A DCM licence enables the company to list these products once it meets the CFTC requirements for each category.
Gemini’s entry comes amid internal friction around earlier regulatory appointments. The Winklevoss twins had raised concerns about Trump’s former nominee Brian Quintenz due to his role at a16z and his board seat at Kalshi, according to reporting from The Block. With Pham overviewing the agency, Gemini appears more confident about the regulatory environment for Titan.
Investor Takeaway
What Comes Next for Gemini?
Gemini will now prepare Titan for launch while completing the technical and operational requirements tied to its DCM licence. The move expands the company’s footprint at a time when the prediction market sector is drawing mainstream attention and attracting new platforms backed by major crypto firms.
The licence also positions Gemini to move into regulated crypto derivatives markets within the U.S. — an area historically dominated by CME and offshore platforms. Whether Titan evolves in that direction will depend on user demand, listing approvals and how far the CFTC’s current leadership is willing to support new market structures.
