Subsequent Events	3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events San Francisco Lease Termination On April 10, 2026, the Company entered into an amendment to its San Francisco office lease to early terminate the lease. In connection with the termination, the Company agreed to pay a termination fee of approximately $0.6 million. Prediction Markets Lawsuit On April 21, 2026, the New York Attorney General filed a petition against Gemini Titan in the Supreme Court of the State of New York alleging that Gemini Titan was operating an unlicensed gambling business and offering unauthorized sports wagering in New York through Gemini Predictions, and seeking injunctive relief, restitution, disgorgement, damages and civil penalties. On April 22, 2026, Gemini Titan removed the case to the U.S. District Court for the Southern District of New York and on May 1, 2026, the New York Attorney General filed a motion to remand the case to state court. The Company intends to vigorously defend against the claims in either venue. Based on the preliminary stage of the proceeding, the Company is unable to predict the outcome of this matter. Shareholder Derivative Action On April 22, 2026, a shareholder derivative complaint was filed in the Eighth Judicial District Court, Clark County, Nevada, purportedly on behalf of the Company, against certain of the Company’s current and former officers and directors, with the Company named as a nominal defendant. The complaint alleges breach of fiduciary duty, unjust enrichment, waste of corporate assets, gross mismanagement, and abuse of control based on alleged materially false or misleading statements and omissions in the Company’s registration statement and prospectus issued in connection with its initial public offering, as well as certain subsequent public disclosures. The plaintiff seeks, among other relief, compensatory damages, pre- and post-judgment interest, attorneys’ fees and costs, and certain governance changes via injunctive relief. The Company intends to vigorously defend against the claims. Based on the preliminary stage of the proceeding, the Company is unable to predict the outcome of this matter. DCO License Approval On April 30, 2026, the Company received a Derivatives Clearing Organization (“DCO”) license from the CFTC. This license allows the Company to act as a clearinghouse for regulated derivatives trading, including prediction markets. Securities Purchase Agreement On May 14, 2026, the Company entered into a securities purchase agreement with Winklevoss Capital Fund, LLC pursuant to which the Company agreed to issue and sell, in a private placement, 7,142,857 shares of the Company’s Class A common stock, at a price of $14.00 per share for aggregate proceeds to the Company of $100.0 million, with consideration paid in Bitcoin. For additional information, refer to our Current Report on Form 8-K, filed with the SEC on May 14, 2026.

Subsequent Events

3 Months Ended

Mar. 31, 2026

San Francisco Lease Termination

On April 10, 2026, the Company entered into an amendment to its San Francisco office lease to early terminate the lease. In connection with the termination, the Company agreed to pay a termination fee of approximately $0.6 million.

Prediction Markets Lawsuit

On April 21, 2026, the New York Attorney General filed a petition against Gemini Titan in the Supreme Court of the State of New York alleging that Gemini Titan was operating an unlicensed gambling business and offering unauthorized sports wagering in New York through Gemini Predictions, and seeking injunctive relief, restitution, disgorgement, damages and civil penalties. On April 22, 2026, Gemini Titan removed the case to the U.S. District Court for the Southern District of New York and on May 1, 2026, the New York Attorney General filed a motion to remand the case to state court. The Company intends to vigorously defend against the claims in either venue. Based on the preliminary stage of the proceeding, the Company is unable to predict the outcome of this matter.

Shareholder Derivative Action

On April 22, 2026, a shareholder derivative complaint was filed in the Eighth Judicial District Court, Clark County, Nevada, purportedly on behalf of the Company, against certain of the Company’s current and former officers and directors, with the Company named as a nominal defendant. The complaint alleges breach of fiduciary duty, unjust enrichment, waste of corporate assets, gross mismanagement, and abuse of control based on alleged materially false or misleading statements and omissions in the Company’s registration statement and prospectus issued in connection with its initial public offering, as well as certain subsequent public disclosures. The plaintiff seeks, among other relief, compensatory damages, pre- and post-judgment interest, attorneys’ fees and costs, and certain governance changes via injunctive relief. The Company intends to vigorously defend against the claims. Based on the preliminary stage of the proceeding, the Company is unable to predict the outcome of this matter.

DCO License Approval

On April 30, 2026, the Company received a Derivatives Clearing Organization (“DCO”) license from the

CFTC. This license allows the Company to act as a clearinghouse for regulated derivatives trading, including prediction markets.

Securities Purchase Agreement

On May 14, 2026, the Company entered into a securities purchase agreement with Winklevoss Capital Fund, LLC pursuant to which the Company agreed to issue and sell, in a private placement, 7,142,857 shares of the Company’s Class A common stock, at a price of $14.00 per share for aggregate proceeds to the Company of $100.0 million, with consideration paid in Bitcoin. For additional information, refer to our Current Report on Form 8-K, filed with the SEC on May 14, 2026.