Winklevoss-led Gemini rolls out prediction markets in 50 US states

Gemini, the cryptocurrency exchange founded by billionaire twins Tyler and Cameron Winklevoss, has rolled out prediction markets in the United States after securing key regulatory approval.

Gemini launched its in-house prediction market, Gemini Predictions, across all 50 US states, the exchange announced in an X post on Monday.

Provided via affiliate Gemini Titan, Gemini Predictions enables users to trade on the outcomes of real-world events with “near instant execution” and full transparency.

The launch came shortly after Gemini Titan obtained a designated contract market license from the Commodity Futures Trading Commission (CFTC) on Wednesday, authorizing the company to offer prediction markets in the US.

Rising trend for building “everything apps”

The arrival of Gemini Predictions marks the company’s latest step in building a “one-stop super app,” allowing users to not only trade crypto, but also stake assets, earn rewards, buy tokenized stocks and participate in prediction markets.

The move aligns with a broader industry trend toward all-in-one platforms in crypto, with rival exchanges like Coinbase also rushing to introduce a wide range of services, including trending prediction markets and tokenized stocks.

Gemini Prediction’s market on the price of Bitcoin on Dec. 31. Source: Gemini

The 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 BNB Chain-based prediction platform Probable on Tuesday.

Related: Phantom taps Kalshi to offer regulated prediction markets in wallet

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 volume rankings in November.

Major providers had faced issues in the US

The industry’s push to launch prediction markets follows years of regulatory uncertainty in the United States, with major providers such as Polymarket resuming local operations after previously facing a ban in 2022.

The platform started rolling out its relaunch in the US in early December, announcing that waitlisted users would be the first to access its US app.

Source: Polymarket

In another sign of a warming US stance toward prediction markets, a group of providers, including Kalshi, Robinhood and Crypto.com, recently received a temporary reprieve after a judge intervened following cease and desist orders issued by the state of Connecticut in early December.