Cryptocurrency exchange Gemini has partnered with Apex to become the exclusive provider of event contracts for brokerage firms, aiming to expand its reach within the prediction market sector.

Key Points

• Gemini will manage execution and clearing for event contracts distributed through Apex’s network of brokerage clients.
• The partnership allows brokerages to offer prediction markets on sports, politics, and cryptocurrency without building independent exchange infrastructure.
• Gemini is entering a competitive market currently dominated by private platforms such as Kalshi and Polymarket.
• The move serves as a strategic effort by Gemini to diversify revenue streams following a period of weaker trading volumes.
• Gemini stock has fallen 87% since its public debut last September, currently trading at $4.28 per share.

Why it Matters

This partnership signals a broader industry shift as crypto exchanges seek to integrate prediction markets into traditional brokerage platforms to capture growing consumer interest. By streamlining access to these speculative assets, Gemini aims to secure a stronger foothold in a competitive sector while attempting to stabilize its financial performance.