Gemini Secures Derivatives License, Expands into Regulated Markets

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has received approval from the U.S. Commodity Futures Trading Commission (CFTC) for a derivatives clearinghouse license. This development enables Gemini to clear and settle trades internally, granting the company greater control over its prediction market products and scalability. Following the announcement, Gemini's shares experienced a 7% surge. The crypto exchange is now well-positioned to compete with established players such as Kalshi and Polymarket in the rapidly growing prediction markets sector, which saw a 300% increase in trading volume in 2025, reaching $63.5 billion. With its new licenses, Gemini aims to offer a comprehensive trading ecosystem, spanning sports, crypto, futures, options, and event-based contracts, and has expressed plans to expand into crypto futures, options, and perpetuals for U.S. users. According to Cameron Winklevoss, this milestone marks a significant step towards creating a 'super app' for financial services. Gemini's strategic focus on the U.S. market follows its exit from the U.K., European Union, and Australia, and the company believes that prediction markets have the potential to surpass the size of current capital markets.