Gemini Strikes Deal with Apex Fintech to Offer Crypto Event Contracts
Gemini, the cryptocurrency exchange, has inked a non-binding letter of intent with Apex Fintech Solutions, a move that would position its subsidiary, Gemini Titan, as the exclusive regulated venue for crypto event contracts.
Under the proposed arrangement, these contracts will be distributed to Apex’s brokerage customers through its futures commission merchant (FCM). Brokerages utilizing the Apex FCM to offer these contracts will rely on Gemini for execution and clearing services. The agreement also grants Gemini the flexibility to collaborate with Apex on sports, economic, and financial market contracts on a non-exclusive basis. Both companies expressed anticipation for finalizing the details in the coming weeks.
Gemini’s forward-looking statements acknowledged the non-binding nature of the letter of intent, cautioning investors about the possibility that a definitive agreement may not be reached.
The path to this agreement involved regulatory approvals from the Commodity Futures Trading Commission (CFTC). Gemini Titan had previously secured a Designated Contract Market (DCM) license in December 2025, enabling it to offer regulated prediction markets to U.S. customers. Gemini had initially applied for this license in March 2020. In April, Gemini Olympus, another subsidiary, obtained a Derivatives Clearing Organization (DCO) license, bringing derivatives clearing and settlement for Gemini Titan in-house.
“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,” stated Gemini CEO Tyler Winklevoss. He further emphasized that predictions represent “the future of markets” and that this approach allows Gemini to “expand our offering and open access to valued partners like Apex as demand for event contracts grows.”
This is not the first collaboration between the two firms. In July, Gemini launched a 0% commission stock trading service for select U.S. customers, with Apex Clearing Corporation serving as the custodian and clearing broker.
Travis McGhee, Apex’s Global Head of Digital Markets, highlighted the benefits for brokerage clients, stating they will “get regulated access to crypto event contracts without having to build the plumbing themselves.” Apex’s infrastructure reportedly supports hundreds of clients and tens of millions of end investors, with its Apex Clearing Corporation subsidiary holding licenses in 53 states and territories.
The burgeoning market for event contracts is evident, with Robinhood reporting $156 million in event contract revenue in the second quarter, a more than tenfold increase year-over-year, driven by a record 13.6 billion contracts traded.
However, Gemini’s prediction market operations are not without legal challenges. The New York Attorney General, Letitia James, has sued the prediction market arms of both Coinbase and Gemini, alleging they operate unlicensed gambling operations without the necessary approval from the New York State Gaming Commission.
“Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,” James asserted.
