Gemini shares (GEMI) jumped as high as 30% in after-hours trading on Thursday after the crypto exchange reported 42% year-over-year revenue growth and disclosed its first operating metrics for its in-house prediction market business.
The company posted $50.3 million in total revenue for the first quarter, up from $35.3 million a year earlier, pointing to growth in services, OTC trading, and its crypto-linked Gemini Credit Card segment.
Prediction market revenue saw a debut mention of $400,000 since Gemini launched the product in December. While this is just a sliver of the volumes seen by pure-play prediction markets like Polymarket and Kalshi, the company said more than 20,000 users have traded contracts on Gemini, with over 100 million contracts traded overall.
For comparison, Kalshi and Polymarket each regularly see daily volumes of between $300,000 and $500,000.
It also gave a sneak peek into April volume, which Gemini says rose a further 78% from the month prior.
