Gemini is reportedly preparing to launch event markets through its exchange, after filing with the CFTC to operate a derivatives exchange. The company previously said it planned contracts covering economic data, financial markets, politics and sports; no launch approval is confirmed in the report.
A potential launch would put Gemini into prediction markets, while the CFTC filing does not confirm regulatory approval.
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Polymarket has reportedly held discussions with regulators in London and Brussels to argue that its event contracts should be treated as financial products rather than gambling. The discussions reportedly include the UK Financial Conduct Authority and the European Securities and Markets Authority, as the company seeks a regulatory route into European jurisdictions where it has faced resistance.
Campaign staff reportedly used polling data unavailable to the public to trade on prediction markets, including Polymarket and PredictIt. An anonymous worker said the trades generated thousands of dollars in profit; Rep. Ritchie Torres plans to introduce legislation on campaign insiders’ trading, according to the report.
Major League Baseball reportedly circulated an August memo warning major- and minor-league players that risking money on prediction markets tied to baseball would breach league rules. Some players told the report they had not seen the memo or been informed of the league’s position.
US prosecutors and the CFTC are investigating prediction-market trades involving military events and corporate earnings, citing The Wall Street Journal. One investigation concerns a servicemember suspected of earning over $1m on Polymarket. Charges in two cases could follow this fall, but authorities have not made final charging decisions.
DraftKings’ revenue fell, reportedly, while its chief executive said the company could compete in prediction markets. The available article text does not provide financial figures or further details.