Prediction Market Companies Expand Services, Form Partnerships, and Face Regulatory Issues

Several prediction market companies are making significant moves in the industry. Gemini has recently launched sports event contracts, becoming one of the latest entrants into this rapidly growing market. The exchange, founded by the Winklevoss twins, used official NFL team logos on its prediction market webpage and reported tens of thousands of dollars in volume for top markets.

Bitnomial is also moving closer to launching a prediction market in the U.S. after receiving a no-action letter from the Commodity Futures Trading Commission (CFTC) concerning reporting rules. The company has been registered as a designated contract market (DCM) since 2020 and used that status to offer cryptocurrency futures and options.

Polymarket, on the other hand, has become the exclusive prediction market partner of the Golden Globes. This partnership comes after a series of partnerships announced by the exchange in recent weeks, including deals with Dow Jones and the NHL's New York Rangers.