Gemini is taking crypto trading to the next level.
The crypto exchange founded by Tyler and Cameron Winklevoss has received a Designated Contract Market license from the CFTC, allowing U.S. users to access prediction markets directly on the platform. The announcement sent Gemini shares up 13.7% in after-hours trading to $12.92 on Wednesday.
The license comes through Gemini Titan, an affiliate that will lead the prediction markets launch. U.S. users can expect to trade event contracts on the web platform soon, giving them the ability to speculate on outcomes ranging from sports events to geopolitical developments.
Gemini’s expansion doesn’t stop there.
The exchange plans to grow its U.S. derivatives offerings, adding crypto futures, options, and perpetual contracts alongside the new prediction markets. This positions Gemini to compete with emerging platforms like Polymarket and Kalshi, which have seen significant activity in 2025. Kalshi, for instance, closed a $1 billion funding round at an $11 billion valuation, highlighting strong investor appetite for the sector.
Cameron Winklevoss, Gemini’s president, framed the potential of prediction markets in bold terms.
He believes they could be as big or even bigger than traditional capital markets, offering a new frontier for crypto investors. The license also comes at a critical time for Gemini, whose stock has fallen 64.5% since its public debut on September 12, reflecting the broader challenges in the crypto market.
Tyler Winklevoss, CEO, noted that the journey to this approval started back in March 2020, marking the end of a five-year licensing process and signaling a new chapter for the company.
Regulatory challenges remain.
Prediction markets often face scrutiny for resembling gambling, and multiple U.S. state regulators have launched enforcement actions against platforms offering event contracts without licenses. The CFTC-regulated framework provides Gemini legal cover, but the landscape varies across states.
This launch aligns with Gemini’s broader vision.
The exchange aims to build a crypto super app, combining trading, derivatives, and now prediction markets into a single platform. Cameron Winklevoss outlined this strategy during Gemini’s first quarterly earnings call since going public, emphasizing that the company sees prediction markets as a growth engine despite initial public expenses.
Competition is heating up.
Other crypto apps are exploring similar moves. Trust Wallet launched prediction markets earlier this month, and Coinbase appears to be developing a platform backed by Kalshi, signaling a trend where crypto apps are blending trading, derivatives, and speculative markets into all-in-one ecosystems.
For Gemini, the CFTC license is more than regulatory approval. It’s a gateway to positioning itself at the forefront of crypto innovation in the U.S., offering users new ways to engage with markets beyond traditional trading.
