Gemini wins CFTC approval for prediction market, may expand into crypto futures, options and perps
Gemini has received CFTC approval to operate a prediction market, Gemini Titan, and may expand into crypto derivatives.Summary
Gemini Space Station, Inc. has been approved by the Commodity Futures Trading Commission (CFTC) to operate a Designated Contract Market (DCM), launching its prediction market platform, Gemini Titan. Initially, the platform will offer binary event contracts, but Gemini intends to potentially expand into crypto futures, options, and perpetual contracts. The company first applied for a DCM license in 2020. This approval comes as prediction markets, like Kalshi and Polymarket, have seen significant growth, particularly during recent election cycles. The CFTC, under Acting Chair Caroline Pham, has become more supportive of these markets, and Gemini President Cameron Winklevoss praised Pham’s pro-innovation approach. Other exchanges, including Crypto.com and Coinbase, are also entering the prediction market space.
(Source：The Block)