Gemini, the cryptocurrency exchange founded by billionaire twins Tyler and Cameron Winklevoss, has launched prediction markets in the US after receiving approval from key regulators.
Gemini has launched its in-house prediction marketplace, Gemini Predictions, in all 50 U.S. states, the exchange announced in an X post on Monday.
The Gemini Predictions service, offered through subsidiary Gemini Titan, allows users to trade based on real-world event outcomes with “almost instant execution” and complete transparency.
The launch came shortly after Gemini Titan received a specified contracts market license from the Commodity Futures Trading Commission (CFTC) on Wednesday, allowing the company to offer predictive markets in the US.
The growing trend of building “everything apps”
The arrival of Gemini Predictions marks the company’s latest step in building an “all-in-one super app,” allowing users to not only trade cryptocurrencies, but also stake assets, earn rewards, buy token shares, and participate in prediction markets.
The move aligns with the broader industry trend towards all-in-one platforms in the cryptocurrency space, with rival exchanges such as Coinbase also rushing to offer a wider range of services, including popular prediction markets and token stocks.
This trend has also been picked up by self-custodial wallets like MetaMask and Trust Wallet, as well as major decentralized exchanges (DEX) like PancakeSwap, which released a new prediction platform based on a potential BNB chain on Tuesday.
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The project adds to a growing portfolio of prediction markets backed by YZi Labs, the venture capital firm founded by Binance co-founder Changpeng “CZ” Zhao, including Opinion, which topped the volume rankings in November.
Major providers have had problems in the United States
The industry’s push to launch prediction markets comes after years of regulatory uncertainty in the US, with major providers such as Polymarket resuming local operations after previously facing a ban in 2022.
The platform began its US relaunch in early December, announcing that waitlisted users would be the first to access its app in the US.
In another sign of the US’s improving stance toward prediction markets, a group of providers, including Kalshi, Robinhood, and Crypto.com, recently obtained a temporary reprieve after a judge intervened following cease-and-desist orders issued by the state of Connecticut in early December.
