Capitalizing on CFTC Thaw, Gemini Seeks Regulatory Nod for Prediction Market Exchange
Gemini is formally positioning itself to become a major player in the prediction market industry, leveraging a shifting regulatory landscape.
The crypto exchange has filed an application with the Commodity Futures Trading Commission (CFTC) to operate a designated contract market, a move specifically intended to support the launch of prediction contracts.
Citing people familiar with the matter, Bloomberg reported that Gemini is actively planning this new venture. The CFTC, which has historically been restrictive, has recently shown a more open stance, viewing prediction markets as an innovative intersection of information and finance. This regulatory softening has created an opening that Gemini now seeks to exploit.
This strategy was hinted at in Gemini’s pre-IPO filing, where it outlined plans for “event contracts.” If approved, Gemini’s regulated platform would compete directly with Kalshi, which is already under CFTC oversight, and Polymarket, which is preparing to re-enter the US market.
