This means your & your opponent time can be in any combination of time passed that totals at least 2 minutes. Note that the ranked match must last at least 2 minutes total in order to obtain the wheel prize. In order to receive a bonus wheel prize, you must face an opponent in a ranked match if you do not have ranked matches unlocked, you must fight in 5 practice matches (or whatever the number in the corner of the ranked match mentions). You can obtain tradable cards/packs by redeeming codes, winning boosters from tournaments, as a Wheel Mystery prize or buying items from the shop with gems which is currently only available in Canada.
For example, the Pikachu card shown has only 2 available for trading. Untradable (locked) cards have a lock icon with the number of cards stated which cannot be traded. As you obtain these items for free, they are - in most cases - untradable!