Gemini Prepares to Enter Prediction Markets Following IPO Success

Crypto exchange Gemini Space Station Inc. is reportedly gearing up to enter the rapidly growing prediction markets sector, joining a wave of major firms including Coinbase and MetaMask that have recently made similar moves.

According to a Bloomberg report on Tuesday citing sources familiar with the matter, Gemini has filed with the CFTC to operate a derivatives exchange, a move that would allow it to offer trading in event contracts — instruments that let users bet on real-world outcomes such as elections, economic data, or sports results.

Executives at Gemini, founded by twin brothers Tyler and Cameron Winklevoss, have reportedly discussed using the new exchange license to launch their prediction market platform “as soon as possible.”

Gemini’s Expansion Follows $4.4B IPO

The latest expansion plans come just weeks after Gemini’s September IPO, which raised $433 million and valued the firm at $4.4 billion. The successful IPO marked a major milestone for the exchange, positioning it among the leading publicly traded crypto firms in the United States.

Prediction markets, once considered a niche part of the crypto landscape, have experienced a resurgence in 2025, with trading volumes surging to record levels. The platform Kalshi recently reported $1.2 billion in trading volume between October 27 and November 2, breaking its previous weekly record of $1.01 billion. 

Rival Polymarket has also surpassed the $1 billion mark in weekly trading, signaling strong retail and institutional interest.

Growing Institutional Interest in Prediction Platforms

Gemini’s planned entry aligns with broader institutional enthusiasm for prediction markets, which allow for speculative yet data-rich trading around real-world outcomes. In recent months, MetaMask, Coinbase, DraftKings, and Sam Altman’s Worldcoin initiative have all announced integrations or plans to support prediction-based trading.

Large financial players are also moving in. The NYSE parent company, ICE, recently made a $2 billion investment in Polymarket, valuing the platform at $9 billion. Meanwhile Kalshi reportedly reached a multibillion-dollar valuation following its surge in user activity.

With Gemini’s entry into the field, the competition in the prediction markets sector is set to intensify. Industry observers expect that the Winklevoss-led exchange could leverage its established brand, regulatory experience, and user base to quickly gain ground in what is shaping up to be one of crypto’s most dynamic emerging sectors.