Gemini Moves Toward Prediction Markets in Bid to Broaden Its Business

Gemini, the cryptocurrency exchange, is seeking to enter the prediction market sector with its filing for approval to launch 'Gemini Titan,' a federally regulated event market. This initiative comes as the prediction market sees a notable increase in trading volume, reaching an all-time high of $2 billion in late October. Gemini's push is also a response to financial challenges, having reported a $282 million net loss in the first half of 2025. Currently, over 80% of Gemini's trading volume is from institutional clients, presenting limitations for growth. If successful, Gemini Titan would compete with existing players like Kalshi and Polymarket, enhancing its service offerings directly without third-party partnerships. The application for a designated contract market follows discussions with the U.S. Commodity Futures Trading Commission, and it requires compliance with significant regulatory standards. Gemini argues that existing rules may hinder the development of innovative prediction markets. This move is critical as the company’s share price has fallen nearly 50% since its IPO, emphasizing the urgency for new revenue opportunities.

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