Crypto exchange Gemini is exiting the United Kingdom, European Union, and Australia markets and cutting 25% of its staff. The company stated these regions were hard to win and lacked sufficient demand, leading it to focus resources on the U.S. and its new prediction market platform. Gemini Predictions has seen over 10,000 users and $24 million in trading volume since its December 2025 launch.
Gemini announced its exit from the United Kingdom, European Union, and Australia markets on Thursday. The company is also reducing its workforce by 25%.
“These foreign markets have proven hard to win in for various reasons, and we find ourselves stretched thin,” the company stated. It added that America has the world’s greatest capital markets while demand in those regions did not justify the operational complexity.
The firm will now concentrate on developing its Gemini Predictions platform and building its U.S. business. Its prediction market launched in December 2025.
“Our thesis is that prediction markets will be as big or bigger than today’s capital markets,” the announcement said. The platform has recorded over 10,000 users and $24 million in trading volume since its launch.
Prediction market trading volume surged by 565.4% quarter-on-quarter in Q3 2024 during the U.S. presidential election. Total volume reached approximately $3.1 billion that quarter.
According to data from Dune, the sector is currently dominated by Polymarket and Kalshi. Polymarket accounts for over 37% of total 24-hour trading volume, while Kalshi commands over 26%.
