Gemini Plans on Launching Prediction Markets Following Industry Trend

Gemini Space Station Inc., the cryptocurrency exchange, is planning on launching prediction markets. According to a recent Bloomberg report, Gemini will join a growing list of crypto companies that are expanding their services to prediction markets. Major crypto players such as MetaMask and Coinbase have already launched similar models earlier this year.

Sources close to the matter have revealed that Gemini has filed with the Commodity Futures Trading Commission (CFTC). The CFTC will allow Gemini to operate as a derivatives exchange. Once approved, Gemini will be able to operate as a derivatives exchange. The crypto exchange will be able to offer event contracts in which the traders can bet on real-world outcomes such as market moves, economic data releases, and even elections.

The step marks Gemini’s first major initiative since its September IPO, in which the company, led by Tyler and Cameron Winklevoss, raised $433 million and achieved a $4.4 billion valuation. The firm’s pivot toward prediction markets signals its intention to diversify revenue streams and tap into one of crypto’s fastest-growing niches.

In the last few months, a lot of people have become interested in prediction markets.  Trading volumes on platforms like Kalshi and Polymarket have hit all-time highs. Kalshi handled $1.2 billion in trades between October 27 and November 2, breaking the previous week's record of $1.01 billion. Polymarket has also seen over $1 billion in trades every week, which shows how much people want to bet on events that are likely to happen.

Gemini’s move comes amid a wave of integrations from other leading firms. MetaMask, Coinbase, DraftKings, and Sam Altman’s Worldcoin project have all expressed interest in incorporating prediction market functionality.

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At the same time, big banks and other traditional financial institutions are also putting a lot of money into the field. The Intercontinental Exchange (ICE), which owns the New York Stock Exchange, recently put $2 billion into Polymarket, giving it a $9 billion value. Kalshi has also reached a value of several billion dollars.

As Gemini prepares to join this high-stakes arena, analysts suggest that regulated crypto-based prediction markets could reshape how users engage with both finance and real-world events, blurring the line between speculation and informed forecasting.

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