Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, received U.S. Commodity Futures Trading Commission approval for a derivatives clearinghouse license. The approval enables the company to expand into regulated derivatives and prediction markets. Gemini shares rose about 7% following the announcement.
Gemini won CFTC approval for a derivatives clearinghouse (DCO) license, allowing it to clear and settle its own derivatives and prediction-market trades in-house. Combined with its existing designated contract market (DCM) authorization, the licenses position Gemini to offer a full-stack U.S. trading ecosystem covering sports, crypto, futures, options, and event-based contracts, the company said. Gemini also plans to expand into crypto futures, options, and perpetuals for U.S. users. This builds on its December 2025 debut of a prediction marketplace via affiliate Gemini Titan. “Today marks a major milestone in Gemini’s marketplace expansion,” Cameron Winklevoss said in a statement, describing it as part of a push toward a “super app” for financial services. The move aligns with surging interest in prediction markets, where trading volume rose over 300% in 2025 to $63.5 billion. Gemini is focusing solely on the U.S. after exiting the U.K., European Union, and Australia in February, which involved a 25% staff reduction. “The reality is that America has the world’s greatest capital markets and America has always been where it’s at for Gemini,” the founders said. Their thesis holds that prediction markets will be as big or bigger than today’s capital markets. Wall Street interest is growing, with Roundhill Investments expected to launch the first U.S. ETFs tied to prediction markets on May 5.
