Game of Thrones Prediction: Coinbase, Crypto.com, Gemini Join the battle

Coinbase officials have already expressed interest in entering this business but without formal announcements. However, expectations rise with the trade Screenshots suggest related features on the social platform X during the last few weeks. A Coinbase spokesperson declined to comment on specific plans, confirming only: “Watch the live stream on December 17th to discover the new products that Coinbase has in the works.”

The move comes as part of Coinbase’s ongoing “omni-application strategy,” which aims to provide a wider range of assets and markets to traders, keeping pace with competitors diversifying their offerings. Robinhood activated its prediction market products for Chai earlier this year, and Robinhood and Kraken offer tokenized US stocks and non-US mutual funds.

Trading in tokenized shares is growing rapidly. According to rwa.xyz, the monthly transfer volume increased by 32% in the last 30 days to reach $1.45 billion.

CPM Industry Alliance Launches: “A Unified Voice Is Essential”

the same day, Advertising like you and crypto.com announces the launch of the National Coalition for Prediction Markets (CPM), an alliance of prediction market operators. Coinbase, Robinhood, and sports platform Underdog joined as founding members.

“The United States is the largest frontier for prediction markets, and the momentum we’re seeing makes having a unified industry voice not only important, but essential,” emphasized Matt David, Executive Member of the CPM Board of Directors.

The coalition’s work focuses on strengthening the federal framework for futures markets, establishing national integrity standards to limit insider trading, and addressing regulatory abuses at the state level.

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“We have spent years collaborating with the CFTC because prediction markets must operate with strong federal safeguards that prevent insider trading, protect consumers, and ensure that these markets remain transparent and free of corruption,” said Sarah Sline, head of corporate development at Calchay and an executive member of the alliance. The coalition noted that more companies are in the negotiation process to join.

Gemini Gets CFTC Approval, Shares Rise 28%

Gemini, founded by the Winklevoss twins, has entered the battleground of prediction markets. Gemini Space Station Inc. has received approval from the Commodity Futures Trading Commission (CFTC) to launch a derivatives trading platform.

The approval allows Gemini to offer event business services to existing customers in the United States via its website and mobile app. Gemini said in regulatory filings related to the IPO that it included prediction markets around “economic, financial, political and sports forecasts” among its list of interesting products.

Gemini stated that it will “explore the expansion of derivatives offerings​​​​for US clients to include cryptocurrency futures, options and perpetual contracts”. After the approval announcement, Gemini shares rose as much as 28% in extended trading.

The approval agreement is among the latest regulatory actions taken by interim president Caroline Pham, who has positioned herself as a key advocate for the digital asset sector and has taken several steps to develop cryptocurrency trading on platforms regulated by the CFTC. FAM also announced that Tyler Winklevoss will join the authority’s CEO Innovation Council, which will include Polymarket Founder Shane Coplan, CME Group President and CEO Terry Duffy, and Kalshi Platform Co-Founder Tariq Mansour.

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CZ moves to center stage in the prediction markets

Binance founder Changpeng Zhao (cz) also expanded The purpose of their forecast markets. On December 4, cz wrote on the x platform about a new prediction market that will be launched on the bnb network. The platform is characterized by the fact that user funds generate returns while waiting for the results to be released. The platform is powered by yzilabs (formerly known as Binance Labs), and yzilabs manages more than $10 billion in assets and has invested in more than 300 projects worldwide.

The day before, CZ’s TrustWallet launched its own forecasting feature. Web3 prediction market protocol Myriad has joined as its first integration partner, allowing users to bet on politics, sports and market trends within the app. TrustWallet has 220 million users.

BNB Network completed its integration with PolyMarket in October, and Opinion Labs, a prediction market provider powered by yzilabs, launched its main network. Opinion Labs received a million dollar investment during Binance Blockchain Week. It completed a funding round of 5 million dollars in Q1 2025, led by yzilabs and with the participation of Animoca Ventures and Amber Group.

Trump Media & Technology Group, the social media company of former US President Donald Trump, has also moved into the prediction market. The company plans to launch Truth Predict” on its social network Verità, which allows users to bet on events ranging from political elections to changes in inflation rates.

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Bets at TruthBredict will be processed via Crypto.com Derivatives North America and bets will be offered on commodity prices and events in all major sports leagues. The initial test will begin “soon”, followed by a full launch in the United States and then global expansion.

Global elites have long controlled these markets, said Devin Nunes, CEO of Trump Media and a former Republican congressman. Through Truth Predict, we work to democratize information and empower ordinary Americans to benefit from the wisdom of the crowd.

The race for the $15 billion throne

Prediction market activity has exploded since a federal court overturned a ban on election betting last year. The weekly trading volume on Polymarket and Calci exceeded the peak recorded during the last US presidential election, setting new records.

Investor interest has increased significantly. Calci more than doubled its value after its last round of funding, reaching $11 billion. Reports indicate that Polymarket is looking to raise funding worth $15 billion.

Traditional financial market operators, including the CME Group and the Intercontinental Exchange, are also considering ways to enter this market. The monthly transfer volume of tokenized assets increased by 32% in the last 30 days, reaching $1.45 billion.

Regulatory uncertainty remained a permanent challenge. In October, Kalshi was resurrected process v. New York Gaming Commission, and stated that this government body exceeds its authority to try to regulate sports betting operations that are only in the federal jurisdiction. Sports betting remains illegal in nearly a dozen US states, and lawsuits over the legality of prediction markets are growing.

Coinbase, Gemini, CZ BNP Chain, and a new industry alliance have entered – the titans’ battle for the $15 billion throne has just begun.