Gemini Exits UK, EU, Australia, Cuts Staff; Focus on U.S.
Cryptocurrency exchange Gemini said Thursday it will exit the United Kingdom, European Union and Australian markets and reduce headcount by 25%, shifting its strategy to prioritize growth in the United States.
In a statement, the company cited increased use of artificial intelligence to automate work — making engineers “100x” more efficient — and tougher operating conditions in the UK, EU and Australia. The firm said these markets have been difficult to penetrate, adding that supporting them has increased organizational complexity via ad syndications, raised costs and slowed execution, with demand in those regions insufficient to justify continued investment. Gemini said it will concentrate on the U.S., which it described as having the world’s deepest capital markets.
Resources will be redirected to the firm’s prediction market platform, Gemini Predictions, launched in December 2025, and to expanding its U.S. business.
The announcement comes amid weakness across digital assets following a market downturn that began with a flash crash in October and the delay of the CLARITY Act, a widely watched U.S. crypto market structure bill.
Gemini pivots to prediction markets as the segment expands
Gemini said prediction markets will play a more central role on its platform, asserting that the category could become as large as, or larger than, today’s capital markets. Since launch, Gemini Predictions has attracted more than 10,000 users and generated $24 million in trading volume, according to the company.
Prediction market trading activity accelerated in the third quarter of 2024 around the U.S. presidential election, with total volume rising 565.4% quarter over quarter to roughly $3.1 billion, according to Dune’s overview.
Daily trading volume for prediction markets from September 2024 to February 2026.
In January 2026, daily prediction market trading volume ranged from about $277 million to about $550 million, according to data from Dune.
Polymarket and Kalshi remain the largest venues, with Polymarket accounting for more than 37% of total 24-hour prediction market volume and Kalshi over 26%, Dune data show. Share this on Facebook or Tweet it to let others know!
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