%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptocurrency exchange Gemini (NASDAQ: $GEMI ) is expanding into the prediction market.The company run by twin brothers and crypto billionaires Cameron and Tyler Winklevoss says it plans to offer its customers tradeable prediction market contracts.Gemini, which went public on the Nasdaq (NASDAQ: $NDAQ ) exchange in September of this year, is trying to diversify its offerings and move into predictions, a popular area among retail investors.Market leaders such as Polymarket and Kalshi allow investors to bet on a wide range of events, from the future price of Bitcoin (CRYPTO: $BTC ) to election outcomes.During the 2024 U.S. election campaign, investors bet more than $8 billion U.S. on the prediction markets run by Polymarket and Kalshi.The popularity of this kind of betting has led to a flurry of new entrants in the space.In recent months, Trump Media & Technology Group (NASDAQ: $DJT ) and Crypto.com have also announced plans to offer prediction market contracts that can be bought and sold by investors.Prediction market contracts are classified as a form of derivatives as their value is derived from the outcome of a future event.Gemini's application to offer prediction market contracts has been made with the U.S. Commodity Future Trading Commission (CFTC) and approval is expected to take months.GEMI stock has declined 49% since it went public and is now trading at $16.29 U.S. per share.