Gemini sets sights on derivatives expansion after winning key U.S. regulatory approval

Gemini Co-founders Tyler Winklevoss and Cameron Winklevoss attend the company's IPO at the Nasdaq MarketSite in New York City, U.S., Sept. 12, 2025. Jeenah Moon | Reuters Gemini Space Station won approval from the U.S. Commodity Futures Trading Commission to operate its own regulated derivatives clearinghouse, a move that gives the crypto exchange a deeper foothold in prediction markets and sets up a potential expansion into perpetual futures trading. This allows Gemini to clear and settle trades in-house rather than relying on outside infrastructure – giving the company greater control over how its prediction market products function and scale, particularly as it builds toward more complex instruments like perpetual futures (better known as perps). The news pushed shares up 2.5% in premarket trading. "Given the opportunity size with prediction markets as well as future crypto derivatives, owning and operating the marketplace end-to-end is powerful," Cameron Winklevoss, cofounder and president of Gemini, told CNBC in an exclusive interview. "It allows us to meet the fast paced, changing environment … and we can deliver a better experience to our customers and be more responsive." Across the industry, exchanges are leaning into products like event contracts, futures — and especially prediction markets — to stabilize revenue that otherwise swings with crypto prices . "We think prediction markets could be as big as traditional capital markets one day," Winklevoss said. …