Crypto exchange Gemini is planning to launch prediction market contracts and could debut them once regulators finalize approvals, Bloomberg reported. Gemini applied to the CFTC in May to operate a designated contract market, a key requirement for a regulated derivatives venue. The filing for its September IPO hinted at plans to offer event-based markets covering economic data, politics, sports, and financial outcomes.
Prediction markets are experiencing rapid growth as platforms like Kalshi and Polymarket attract both retail and institutional traders. In October, Kalshi handled $4.4 billion in volume, while Polymarket reached $3 billion as it prepares to reenter the U.S. market.
Regulatory sentiment has softened as the CFTC signals support for innovation in event-based markets. Traditional firms are joining too: Robinhood partnered with Kalshi, and the NHL recently signed licensing deals with both Kalshi and Polymarket. Gemini’s entry would mark a major crypto exchange expanding into one of the industry’s fastest-growing market sectors.
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