Gemini Space Station Inc. is set to enter the prediction markets arena, filing with the CFTC to operate a derivatives exchange. The company went public in September, raising $433 million and boasting a $4.4 billion valuation. Gemini aims to allow trading of event contracts, enabling bets on real-world outcomes.

Kalshi, a predictions platform, hit record trading volumes of $1.2 billion from Oct. 27 to Nov. 2, surpassing the previous week’s $1.01 billion. Its competitor, Polymarket, has also exceeded $1 billion in weekly trading volume. Both platforms have seen significant growth since July 2021.

Gemini is following in the footsteps of MetaMask, Coinbase, DraftKings, and others by integrating prediction markets into its platform. The New York Stock Exchange’s parent company invested $2 billion in Polymarket at a $9 billion valuation. Kalshi has also received a multibillion-dollar valuation, signaling the increasing popularity of prediction markets.

Read more at Cointelegraph: Gemini Preps to Integrate Prediction Markets: Bloomberg