Gemini Secures CFTC Derivatives Clearing Organization License for Prediction Markets and Perpetuals

Gemini Space Station, run by Cameron and Tyler Winklevoss, received CFTC approval for a derivatives clearinghouse license on April 30, 2026, allowing the crypto exchange to clear and settle trades in-house rather than relying on external providers. The license enables Gemini to offer sport, crypto, futures, options, and event-based contracts, positioning it to compete with Kalshi and Polymarket in a prediction market sector that grew over 300% to $63.5 billion in trading volume in 2025. Gemini shares climbed about 7% following the announcement, which came after the company's affiliate Gemini Titan received designated contract market authorization in December 2025. The expansion into U.S. derivatives follows Gemini's February 2026 exit from the UK, EU, and Australia markets, which included a 25% staff reduction.

Gemini's CFTC License Approval and Market Entry Strategy

• ▪Gemini Space Station received U.S. Commodity Futures Trading Commission approval for a derivatives clearinghouse license on April 30, 2026
• ▪Gemini Space Station is run by Cameron Winklevoss and Tyler Winklevoss
• ▪Gemini shares climbed about 7% following the derivatives clearinghouse license announcement
• ▪Gemini Titan received a designated contract market authorization from the CFTC in December 2025

Prediction Markets Growth and Competitive Landscape

• ▪Prediction market trading volume increased over 300% in 2025 to $63.5 billion
• ▪Roundhill Investments is expected to roll out the first U.S. exchange-traded funds tied to prediction markets on May 5, 2026

Gemini's Broader Business Restructuring and U.S. Focus

• ▪Gemini announced its exit from the United Kingdom, European Union and Australia in February 2026
• ▪Cameron Winklevoss and Tyler Winklevoss stated that America has the world's greatest capital markets
• ▪Gemini's exit from the United Kingdom, European Union and Australia included a staff reduction of roughly 25%
• ▪Cameron Winklevoss and Tyler Winklevoss stated that prediction markets will be as big or bigger than today's capital markets

Perspective of Cameron Winklevoss and Tyler Winklevoss

• ▪Cameron Winklevoss and Tyler Winklevoss believe prediction markets will rival or exceed the size of today's capital markets