Gemini preparing to launch prediction market contracts: Bloomberg

Crypto exchange Gemini, founded by the Winklevoss twins, is planning to launch prediction market contracts as soon as possible, according to a Bloomberg report citing anonymous sources. This move may utilize a new platform for which Gemini filed an application in May with the Commodity Futures Trading Commission (CFTC) to operate as a designated contract market. Gemini had previously indicated in filings before its September IPO that it aims to launch event contracts covering economic, financial, political, and sports forecasts. This development occurs amid growing volume in the prediction market sector, with platforms like Kalshi and Polymarket seeing record activity. The CFTC has also softened its stance on these markets, viewing them as innovative frontiers, while other major players like Robinhood are also expanding into the space through partnerships.

(Source：The Block)