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Angle-resolved and energy-dependent photoemission was used to study the band structure of paramagnetic CoS2 from high-quality single-crystal samples. A strongly dispersing hybridized Co–S band is identified along the Γ–X line. Fermi level crossings are also analyzed along this line, and the results are interpreted using band structure calculations. The Fermi level crossings are very sensitive to the separation in the S–S dimer, and it is suggested that the half-metallic gap in CoS2 may be controlled by the bonding– antibonding splitting in this dimer, rather than by exchange splitting on the Co atoms.