Winklevoss Twins’ Gemini Aims to Challenge Kalshi and Polymarket with New Prediction Platform

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The Winklevoss twins are making a power play for the red-hot prediction market. Their crypto exchange, Gemini, is in the advanced stages of preparing to launch its own prediction market contracts, setting the stage for a showdown with current leaders Kalshi and Polymarket.

According to a Bloomberg report, Gemini is moving quickly to capitalize on the sector’s massive growth.

The exchange has already filed the crucial application with the CFTC to operate a derivatives exchange, a key regulatory step. This new platform, currently under review, is expected to host the event contracts for “economic, financial, political and sports forecasts” that Gemini teased in a recent filing.

The timing is strategic. The prediction market space is booming, with Kalshi and Polymarket hitting all-time high volumes in October. By entering the arena, Gemini is betting it can capture a significant share of a market that is rapidly gaining mainstream and regulatory acceptance.