Crypto Exchanges Brace for Prediction Markets Race: Gemini & Crypto.com Lead
Gemini and Crypto.com are entering the prediction markets space, signaling a new competitive frontier in digital-asset trading.Summary
Major US crypto firms Gemini and Crypto.com are making significant moves into prediction markets, introducing event-based contracts that represent a new trading frontier. Gemini is seeking regulatory approval from the CFTC to operate derivatives contracts based on real-world outcomes, positioning itself to compete with existing platforms like Polymarket and Kalshi by diversifying revenue beyond volatile spot markets.
Conversely, Crypto.com, through its CFTC-registered affiliate, is launching entertainment-focused contracts tied to pop culture events in partnership with Hollywood.com. This strategy aims to attract users outside traditional crypto trading by framing prediction markets as entertainment. Both moves introduce regulatory complexity concerning compliance, risk management, and liquidity, potentially leading to closer scrutiny as these markets blur the lines between derivatives and speculation.
(Source：BeInCrypto)