US EditionGemini Prepares to Offer Prediction Market Contracts: Bloomberg
Gemini aims to launch derivatives based on event outcomes amid rising market demand and competition from Kalshi and Polymarket, following a $425 million IPO in September.
- On Tuesday, Tyler Winklevoss and Cameron Winklevoss's Gemini exchange plans to launch CFTC-regulated prediction market contracts after applying in May to the US Commodity Futures Trading Commission.
- To broaden its product suite, Gemini aims to enter prediction markets amid growing volumes on Kalshi and Polymarket, with analysts saying the move would expand its offerings.
- The US derivatives regulator can take months or years to approve new exchanges, and the recent government shutdown could further delay approval as Kalshi, Polymarket, CME Group, Coinbase, and Robinhood advance in prediction markets.
- Buoyed by a $425 million initial public offering in September, Gemini is discussing launching prediction products as soon as possible, Bloomberg reported, aiming to broaden its offerings.
- As more firms enter the space, James Newman, Chief Corporate Affairs Officer at Chiliz, said integrating prediction markets requires balancing innovation with responsibility amid growing adoption of blockchain-based fan engagement platforms.
15 Articles
15 Articles
Gemini Targets Prediction Markets in Bid to Expand Revenue Streams
Crypto exchange Gemini is set to enter the growing prediction markets sector, positioning itself against various financial and crypto firms, including a new venture backed by the Trump family. Regulatory Application and Strategic Ambitions The cryptocurrency exchange, Gemini Space Station Inc., is preparing to enter the booming prediction markets sector, according to a report citing […]
The Winklevoss brothers’ cryptocurrency platform is ready to expand with a new offer of prediction contracts, as sources advanced to Bloomberg. *** Gemino expands: he prepares to add predictive market contracts. Familiar sources advanced plans to Bloomberg amid renewed interest in betting. Exchange is in discussions with US regulators to be able to launch the product. He will start testing the product at the end of 2025, with a possible launch i…
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