Exchange prepares to file derivatives license as competition heats up across crypto platforms
Gemini Space Station Inc., the crypto exchange founded by Cameron and Tyler Winklevoss, is reportedly planning to launch its own prediction markets platform, marking one of its most ambitious moves since going public earlier this year.
According to reports from Bloomberg, Gemini has filed with the Commodity Futures Trading Commission (CFTC) to operate a derivatives exchange — a step that would allow it to offer event-based contracts, enabling users to trade on the outcomes of real-world events.
“The move signals Gemini’s effort to diversify beyond traditional crypto trading and capture the fast-growing market for decentralized prediction tools,” said crypto market strategist Ethan Ross. “It’s a natural progression for exchanges looking to expand their revenue streams amid competitive pressure.”
Weekly trading volume on Kalshi since July 2021. : DeFiLlama
The prediction market sector — where users can speculate on everything from election outcomes to economic indicators — has seen explosive growth in recent months. Kalshi, a regulated prediction platform, reported record weekly trading volumes of $1.2 billion between Oct. 27 and Nov. 2, surpassing its previous $1.01 billion record.
Its closest rival, Polymarket, also crossed the $1 billion weekly volume mark earlier this year, showing the sector’s rising investor appetite.
Gemini’s renewed expansion follows its September initial public offering, which raised $433 million and valued the firm at $4.4 billion. Analysts say the company’s push into prediction markets could define its next growth phase, especially as institutional interest in event-driven derivatives increases.
Prediction markets becoming the next crypto frontier
Gemini now joins a growing list of crypto and fintech firms — including Coinbase, MetaMask, and DraftKings — integrating or exploring prediction markets. Meanwhile, institutional backers are moving in as well: the Intercontinental Exchange, parent of the New York Stock Exchange, recently invested $2 billion in Polymarket at a $9 billion valuation.
“The entry of major exchanges like Gemini could legitimize prediction markets in the eyes of regulators and investors alike,” said fintech analyst Marina Patel. “If approved, Gemini could help bridge the gap between crypto speculation and real-world finance.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
We use cookies to personalize content and ads, provide social media features, and analyze our traffic. In accordance with GDPR/AVG and EU cookie regulations, data is processed only with your consent. We may share information about your use of our website with our social media, advertising, and analytics partners, and you can manage or withdraw your consent at any time. View more
Cookies settings
Accept
Privacy & Cookie policy
Privacy & Cookies policy
Cookies list
Cookie name
Active
Privacy Policy
At BitxJournal.com, we respect your privacy and are committed to protecting your personal data. This Privacy Policy explains how we collect, process, store, and protect personal information in accordance with the General Data Protection Regulation (GDPR) and AVG (EU privacy legislation).
1. Data Controller
BitxJournal.com acts as the data controller for all personal data processed through this website.
2. Personal Data We Collect
We may collect and process the following categories of data:
Personal Data
Name and email address (when you subscribe to newsletters or contact us)
Technical & Usage Data
IP address, browser type, operating system
Device information
Pages visited, referral sources, and interaction data
This data is collected via cookies, log files, and analytics technologies.
3. Legal Basis for Processing
We process personal data only when a lawful basis exists, including:
Consent – when you explicitly agree (e.g., cookies, newsletter sign-up)
Legitimate interest – to operate, secure, and improve our website
Legal obligation – when required by applicable laws
You may withdraw your consent at any time.
4. Purpose of Data Processing
Your data is processed for the following purposes:
Operating and maintaining the website
Improving content, usability, and performance
Sending newsletters or updates (only with consent)
Analyzing traffic and user behavior
Responding to inquiries or support requests
5. Cookies & Consent Management
We use cookies and similar technologies in compliance with EU Cookie Law.
Non-essential cookies are placed only after explicit user consent
Users may accept, reject, or manage cookie preferences at any time
Consent can be withdrawn without affecting prior lawful processing
Detailed cookie information is available in our Cookie Settings panel.
6. Third-Party Data Processing
We may share limited data with trusted third-party service providers, including:
Analytics providers (e.g., Google Analytics)
Advertising partners (for personalized or non-personalized ads)
These third parties act as data processors and process data only under contractual obligations compliant with GDPR/AVG.
7. International Data Transfers
Where data is transferred outside the European Economic Area (EEA), we ensure appropriate safeguards are in place, such as Standard Contractual Clauses (SCCs) or equivalent legal mechanisms.
8. Data Retention
We retain personal data only for as long as necessary to fulfill the purposes outlined in this policy or as required by law.
9. Data Security
We implement appropriate technical and organizational security measures to protect personal data against unauthorized access, alteration, disclosure, or destruction.
10. Your GDPR Rights
Under GDPR/AVG, you have the right to:
Access your personal data
Rectify inaccurate or incomplete data
Request data erasure (“right to be forgotten”)
Restrict or object to processing
Data portability
Withdraw consent at any time
Lodge a complaint with a supervisory authority
11. Changes to This Privacy Policy
We reserve the right to update this Privacy Policy at any time. Any changes will be posted on this page with a revised effective date.
12. Contact Information
For privacy-related inquiries or GDPR requests, contact:
