Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is preparing to enter the regulated prediction market space as it seeks new revenue sources amid ongoing market and financial pressures.
According to thirteen public filings on the U.S. Commodity Futures Trading Commission (CFTC) website, Gemini’s parent company, Gemini Space Station Inc., applied in May for approval to launch a derivatives exchange named “Gemini Titan.”
The filing seeks registration as a designated contract market (DCM), a step that would allow the platform to list event-based derivatives covering topics such as politics, sports, and economic outcomes.
Sources cited by Bloomberg said the exchange is preparing to roll out its first products once regulatory clearance is obtained. Unlike some peers that rely on partnerships, Gemini reportedly plans to operate its prediction market directly, underscoring its push for autonomy in the growing event-contracts industry.
If approved, Gemini’s move would place it in direct competition with Kalshi, the only active CFTC-licensed event market, and Polymarket, which is working toward full reentry into the U.S. market. Platforms such as Robinhood have instead opted to collaborate with Kalshi rather than seek their own regulatory approvals.
Gemini’s expansion effort follows its September IPO, in which the company outlined plans to diversify into financial forecasting and retail engagement products. Despite its stock trading about 40% below debut levels, analysts view prediction markets as a potential catalyst for growth.
The timing of Gemini’s application coincides with renewed momentum in prediction markets, where weekly trading volumes recently hit an all-time high of $2 billion. However, regulatory reviews have slowed amid the ongoing U.S. government shutdown, delaying new approvals.
With a reputation for compliance, including a New York BitLicense, Gemini could leverage its credibility to gain early trust in a sector still navigating regulatory uncertainty.