A federal judge rejected a joint request from Gemini and the Commodity Futures Trading Commission (CFTC) to overturn a settlement reached in January 2025. The court determined that the agreement remains valid and that Gemini was not coerced into the deal.
The original 2023 lawsuit alleged that Gemini misled regulators in 2017 regarding a proposed bitcoin futures contract. The company settled the case before trial without admitting or denying the allegations. The judge ruled that Gemini must continue to comply with an order prohibiting it from misleading the CFTC or publicly rejecting the settlement findings.
Gemini and the CFTC had argued that the regulator used inappropriate tactics and should not have brought the case. The settlement was finalized during the Biden administration, prior to the current shift in regulatory approach under the Trump administration.
In February, Gemini announced a 25% workforce reduction and its exit from the United Kingdom, European Union, and Australia. The company is now focusing on the United States and its prediction market, Gemini Predictions.
The Gemini Predictions platform launched in December 2025. Within two months, it attracted over 10,000 users who traded more than $24 million. The company cited the current state of the crypto market and AI capabilities as factors for its strategic shift.
