Gemini Prepares to Offer Prediction Market Contracts

Cryptocurrency exchange Gemini is planning to enter the prediction market sector, with potential new products expected to be unveiled soon. This follows the growing popularity of prediction markets, particularly noted during the 2024 U.S. election, where platforms like Polymarket facilitated over $8 billion in bets. As a publicly traded company listed on the Nasdaq, Gemini aims to capitalize on this interest. Prediction markets, which are a type of derivative, derive their value from the outcomes of future events, making regulatory approval essential. Specifically, Gemini's plans to offer such contracts will be subject to oversight from the U.S. Commodity Future Trading Commission (CFTC), a process that may take several months. The company has not yet commented on its plans regarding these new offerings but is actively pursuing entry into this lucrative market.

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