CFTC to Consider Gemini Titan Prediction Market Application

Gemini Space Station Inc. has filed an application with the US Commodity Futures Trading Commission (CFTC) to launch a regulated prediction market platform under the new entity Gemini Titan. The application seeks designation as a contract market for event-driven derivative products managed directly by Gemini Titan, bypassing third-party partners. In its filing, Gemini also opposed the CFTC’s proposed ban on event contracts, warning that blanket restrictions would stifle legitimate growth in prediction markets. To secure approval, Gemini Titan must comply with 23 regulatory standards including trading surveillance, financial safeguards and system integrity. The move positions Gemini Titan against existing rivals such as Kalshi and Polymarket, which saw weekly volumes of $2 billion. The push into regulated prediction markets comes amid financial headwinds: since its September IPO, Gemini’s shares have fallen 49%, revenue fell to $68.6 million year‐on‐year and the company posted a $282 million loss in H1 2025. With over 80% of trading volume driven by institutional clients, the shift highlights a strategic pivot toward compliant, institution-focused trading.