The recent explosion in prediction markets is attracting attention from everywhere
Gemini Space Station Inc., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is preparing to enter the growing world of prediction markets. According to Bloomberg, the company has filed with the Commodity Futures Trading Commission (CFTC) to operate a derivatives exchange that would allow users to trade event contracts — wagers based on real-world outcomes such as elections, sports, or economic data.
The move signals Gemini’s intent to capture part of a rapidly expanding market that blends trading with speculation on current events. The platform aims to launch its prediction market “as soon as possible,” insiders said. This follows the company’s recent initial public offering in September, which raised $433 million and valued Gemini at roughly $4.4 billion, giving it the financial resources to expand into new segments of the crypto economy.
Prediction markets have gained renewed popularity in 2025, with platforms like Kalshi and Polymarket setting record trading volumes. Between October 27 and November 2, Kalshi processed about $1.2 billion in trades, surpassing its previous weekly record of $1.01 billion. Polymarket has also seen weekly volume cross the billion-dollar threshold, reflecting surging demand for this type of speculative trading.
Gemini’s timing appears deliberate, aligning with a broader trend among major crypto and fintech companies. Coinbase, MetaMask, and DraftKings have all launched or announced integrations with prediction markets, while Intercontinental Exchange—the parent company of the New York Stock Exchange—invested $2 billion into Polymarket, valuing it at $9 billion.
By pursuing a regulated path through the CFTC, Gemini hopes to differentiate itself from competitors and appeal to institutional and retail traders seeking a compliant environment. The effort could give the exchange a new revenue stream while strengthening its position in an increasingly competitive crypto landscape where real-world speculation meets blockchain innovation.
