Gemini Space Station Inc. is reportedly planning to enter the burgeoning prediction markets space, following recent moves by industry giants like Coinbase and MetaMask.
Gemini's Strategic Move
- Derivatives Exchange: Gemini is looking to launch its prediction market "as soon as possible," utilizing a Commodity Futures Trading Commission (CFTC) filing to operate a derivatives exchange.
- Event Contracts: Executives have reportedly discussed using this license to enable trading of event contracts, which allow users to bet on the outcomes of real-world events.
- Post-IPO Expansion: This strategy follows Gemini co-founders Tyler and Cameron Winklevoss taking the company public in September, raising $433 million and achieving a $4.4 billion valuation.
The Booming Market Landscape
Gemini's intended entry highlights the rapid growth and increasing institutional interest in prediction markets:
- Record Volumes: Platforms like Kalshi and Polymarket have recently recorded massive trading volumes, with Kalshi seeing new weekly highs almost every week since mid-October, topping $1.2 billion across a recent week.
- Institutional Backing: The sector is attracting major institutional capital, evidenced by the New York Stock Exchange's parent, Intercontinental Exchange (ICE), making a $2 billion investment in Polymarket at a $9 billion valuation. Kalshi has also reached a multibillion-dollar valuation.
- Widespread Integration: Gemini joins a growing list of companies, including MetaMask, Coinbase, DraftKings, and World, that are integrating or planning to integrate prediction market functionalities.
This influx of major crypto exchanges and financial backing underscores the increasing mainstream adoption and legitimacy of prediction markets.
November 2025, Cryptoniteuae