Gemini Prepares to Offer Prediction Market Contracts: Bloomberg

Why It Matters

Entering the prediction‑market space broadens Gemini’s product offering into regulated derivatives, potentially attracting institutional traders and intensifying competition in a fast‑growing market. It also underscores heightened regulatory engagement as crypto firms seek mainstream financial products.

Summary

Cryptocurrency exchange Gemini (GEMI), which went public on the Nasdaq in September, is preparing to launch prediction‑market contracts, a form of event‑driven derivatives. The move follows a surge in the sector, highlighted by Polymarket and Kalshi handling more than $8 billion in bets during the 2024 U.S. election. Gemini’s rollout would require approval from the U.S. Commodity Futures Trading Commission, a process that could take several months. The firm aims to be among the first crypto‑focused platforms to offer such products, expanding its service suite beyond spot trading.