Gemini has received approval from the CFTC to establish a prediction market, and may subsequently expand to crypto futures, options, and perpetual contracts.

According to Odaily Planet Daily, Gemini Space Station, Inc. (GEMI) has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a **Designated Contract Market (DCM)**, officially entering the prediction market field.

Gemini announced that its new platform, Gemini Titan, will initially launch classic binary event contracts, allowing users to "bet on or against future events." Gemini stated that Titan is expected to expand further to other CFTC-regulated derivatives markets in the future, including crypto futures, options, and perpetual contracts.

Public information shows that Gemini initially submitted its DCM license application on March 10, 2020, but did not disclose details of its plans to build a prediction market at the time. DCM is a regulatory framework for conventional derivatives trading markets under the CFTC, applicable to the vast majority of regulated trading platforms.

The forecasting market is currently experiencing rapid growth. Kalshi and Polymarket saw rapid expansion during last year's US election cycle, and this growth accelerated further after Trump's inauguration. According to data from The Block, both recorded their best trading volumes in October and November of this year, and are expected to continue their strong performance in December. (The Block)