Gemini posts Q1 loss but lands $100M Bitcoin-funded investment
Gemini Space Station Inc., which trades under ticker GEMI on NASDAQ, posted a Q1 loss but secured a $100 million Bitcoin-funded investment. The prediction-market operator reported more than 100 million event contracts traded since launch and over 20,000 total prediction traders since launch, citing 78% month-over-month growth. Gemini stock rose after hours on the news. The same market session saw Interactive Brokers add prediction markets access for Kalshi and CME Group, and Polymarket sign a deal with Serie A, though no further deal terms, investor names, or regulatory details were disclosed for Gemini's raise.
Gemini's 78% month-over-month growth and 100 million contracts traded put it in direct competition with Kalshi's newly doubled $22 billion valuation and Robinhood's bundled event-contract push, forcing the company to prove this Bitcoin-funded raise can scale liquidity fast enough to keep institutional traders from defecting to better-capitalized rivals.