Cryptocurrency exchange Gemini has signed a non-binding letter of intent with Apex Fintech Solutions to make its subsidiary, Gemini Titan, the exclusive regulated venue for crypto event contracts. According to the press release, these contracts will be distributed through Apex's futures commission merchant (FCM) to its brokerage customers.
Under the proposed arrangement, brokerages offering the contracts through the Apex FCM would use Gemini for execution and clearing. The release states that the agreement also provides Apex the flexibility to collaborate on sports, economics, and financial markets contracts on a non-exclusive basis, with both firms working to finalize details in the coming weeks.
Gemini noted in its forward-looking statements that the arrangement is non-binding and that there is a possibility the parties may fail to reach a definitive agreement.
Regulatory Milestones
Gemini Titan secured a Designated Contract Market (DCM) license in December 2025 to offer regulated prediction markets to US customers, following an initial filing in March 2020. Additionally, subsidiary Gemini Olympus obtained a Derivatives Clearing Organization (DCO) license in April to handle derivatives clearing and settlement in-house for Gemini Titan.
“Leveraging more than a decade of experience building and operating a regulated platform for crypto, a new and emergent asset class, we deliberately chose to build our predictions platform in-house,” said Gemini CEO Tyler Winklevoss. He added that predictions represent the future of markets and allow the firm to open access to partners like Apex as demand grows.
Existing Partnership and Market Context
The two companies have previously collaborated, including a July launch of stock trading with zero-percent commissions for certain US customers, utilizing Apex Clearing Corporation as custodian and clearing broker.
Travis McGhee, Apex Global Head of Digital Markets, stated that brokerage clients will gain regulated access to crypto event contracts without needing to build the infrastructure themselves. Apex's infrastructure supports hundreds of clients and tens of millions of end investors, with its Apex Clearing Corporation subsidiary licensed across 53 states and territories.
Meanwhile, the broader prediction market sector continues to see growth and legal scrutiny. Robinhood reported $156 million in event contract revenue in the second quarter on 13.6 billion contracts. However, Gemini's prediction market arm faces legal action from New York Attorney General Letitia James, who filed a lawsuit arguing that the prediction market arms of Coinbase and Gemini operate unlicensed gambling without New York State Gaming Commission approval.
