Gemini, the cryptocurrency exchange platform founded by Cameron and Tyler Winklevoss, is preparing to launch prediction market contracts, according to a Bloomberg report on Tuesday.
This move would position Gemini to compete directly with established players such as Kalshi and Polymarket.
This plan is backed by an application filed in May with the US Commodity Futures Trading Commission (CFTC) to operate a designated contract market, the regulatory status required for a derivatives platform.
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This new platform is believed to be the intended vehicle for prediction contracts.
It should be noted that prediction markets are experiencing explosive growth.