Gemini’s Tyler Winklevoss Thanks Trump for Ending the Biden Administration’s War on Crypto After DCM License

Gemini Space Station announced on Wednesday that its affiliate Gemini Titan secured approval from the US Commodity Futures Trading Commission (CFTC) to operate a Designated Contract Market (DCM).

The decision opens the door for the exchange to begin offering regulated prediction markets in the United States.

Gemini Titan Debuts in Prediction Markets

The launch marks Gemini’s first entry into the fast-growing event-contracts sector, where traders buy and sell binary “yes or no” positions tied to future outcomes. Gemini, which first filed for a DCM license in March 2020, had not previously disclosed that the application would form the basis of a standalone prediction-market platform.

US customers will initially access the contracts through Gemini’s website using existing USD balances, and mobile access is expected to follow. The move places Gemini in a competitive field led by Kalshi and Polymarket, platforms that saw trading volumes surge during last year’s US election cycle and continue climbing since President Donald Trump took office.

The sector has been shaped by years of cautious CFTC oversight, including enforcement actions such as the earlier ban on Polymarket and tight restrictions on political-themed markets. A recent legal win by Kalshi against the CFTC over event-contract listings has widened the regulatory pathway for platforms seeking to expand into categories such as sports and economic forecasting.

Gemini’s CEO, Tyler Winklevoss, thanked Trump for “ending the Biden Administration’s war” on the sector and added that “it’s incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.”

Meanwhile, the exchange’s President Cameron Winklevoss said,

“Prediction markets have the potential to be as big or bigger than traditional capital markets. Acting Chairman Pham understands this vision and its importance. Unlike her predecessor, Acting Chairman Pham has positioned the CFTC as a pro-business, pro-innovation regulator that will allow America to lead in these new and exciting markets.”

The official press release also revealed that Gemini Titan may later broaden its derivatives offerings to include crypto futures, options, and perpetual contracts, products widely traded in Asia but historically limited in the United States due to regulatory hurdles.

CFTC Warms Up to Prediction Markets

Prediction markets are gaining momentum in Washington as the CFTC, now led by Acting Chair Caroline Pham under Trump’s second term, has taken a more welcoming approach to the sector. In October, CryptoPotato reported that Trump Media and Technology Group said it would launch a prediction market inside Truth Social through an exclusive partnership with Crypto.com.

The new feature, called Truth Predict, will let users trade contracts on elections, inflation moves, commodity prices, and sports results. Crypto.com CEO Kris Marszalek said the industry could grow into a “multi-deca-billion-dollar” market.

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