Gemini Space Station, Inc. has secured a Designated Contract Market (DCM) license from the U.S. Commodity Futures Trading Commission, clearing the way for the company to offer regulated prediction markets to U.S. customers. The approval, announced on December 10, 2025, marks the end of a five-year licensing effort that began in March 2020 and provides Gemini with a significant new regulatory foothold as it seeks to diversify its business.
A Regulated Platform for Event Contracts
With its newly granted DCM license, Gemini Titan, LLC, an affiliate, will operate a marketplace offering binary event contracts including questions such as, “Will 1 bitcoin end this year higher than $200k?”. The authorization also opens the door for Gemini to pursue additional exchange-listed products, including crypto futures, options, and perpetual contracts, should the company move in that direction. This positions Gemini to compete directly with emerging regulated prediction markets, giving the firm a compliant structure that could attract users seeking exposure to event-driven trading without relying on offshore platforms.
Strengthening Strategy After a Difficult IPO
The approval comes at a pivotal moment for Gemini, whose stock has struggled since going public in September 2025. After debuting at $37.01, shares have steadily declined, closing at $11.36 on December 10. Expanding into regulated derivatives and event markets represents a strategic shift designed to broaden revenue streams and stabilize long-term growth prospects.
Leadership changes and engagement with policymakers have been central to this pivot. Tyler Winklevoss, Gemini’s CEO, was recently named to the CFTC’s CEO Innovation Council, underscoring the agency’s willingness to work with industry leaders as it refines the country’s digital asset regulatory framework.
A Broader Market Under Pressure
The approval arrives as volatility persists across the digital asset landscape. Bitcoin (BTC) and Ethereum (ETH) have experienced wide swings over the past year, while Solana (SOL), a blockchain increasingly referenced in institutional adoption narratives, has undergone a sharp drawdown. Market uncertainty adds urgency to Gemini’s efforts to expand its product suite and differentiate itself amid shifting investor sentiment.
A Regulatory Milestone With Industry Implications
Gaining a DCM license positions Gemini among a small group of firms authorized to operate regulated derivatives and prediction markets in the U.S. It also signals a broader willingness from the CFTC to support innovation around digital assets and event-based contracts. As Gemini prepares to launch its platform, the move could accelerate competition across prediction markets while giving institutional and retail participants a compliant alternative in a rapidly evolving sector.