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Gemini Prepares to Offer Prediction Market Contracts: Bloomberg
Gemini seeks to enter the expanding US prediction market sector after raising $425 million in its IPO, aiming to compete with established platforms like Kalshi and Polymarket.
- On Tuesday, Gemini exchange applied to the US Commodity Futures Trading Commission to create a designated contract market and plans event contracts for economic, financial, political and sports forecasts, Bloomberg reported.
- Industry entrants including Coinbase, Robinhood and CME Group are signalling broader interest in prediction markets as Kalshi is registered and Polymarket considers reopening in the US soon.
- A Needham analyst said Gemini's plans expand its product scope, while James Newman, Chief Corporate Affairs Officer at Chiliz, told Cryptonews the launch signals growing blockchain-based fan engagement adoption.
- If approved, Gemini would enter competition with Kalshi and Polymarket, but the US derivatives regulator can take months or years to approve and the recent government shutdown may delay the process.
- Gemini's strong $425 million September IPO gives it resources to expand into new products, and sources say the exchange aims to launch products as soon as possible while balancing sustainability and responsibility.
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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 […]
Coverage Details
Total News Sources16
Leaning Left1Leaning Right0Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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