- Gemini shares jumped as much as 30% after the company reported 42% year-over-year revenue growth.
- The exchange revealed its first prediction market metrics, including more than 100 million contracts traded.
- Gemini’s credit card business surged 300% year-over-year and became one of its largest revenue drivers.
- Exchange trading revenue declined sharply as crypto market activity slowed during Q1.
- Gemini continues expanding into derivatives, prediction markets, and broader financial infrastructure.
Gemini Expands Beyond Spot Crypto Trading
Crypto exchange Gemini reported strong first-quarter revenue growth as the company pushes deeper into prediction markets, derivatives, and financial services beyond traditional crypto trading.
Total quarterly revenue rose 42% year-over-year to $50.3 million, helping Gemini shares surge nearly 30% in after-hours trading.
The company highlighted growing contributions from over-the-counter trading, custodial services, staking products, and its Gemini Credit Card business.
At the same time, exchange trading activity weakened significantly as crypto market volatility and retail participation cooled compared to last year.
Prediction Markets Become New Growth Area
For the first time, Gemini disclosed operating metrics tied to its prediction market business, which launched in December.
The platform generated approximately $400,000 in prediction market revenue while surpassing 100 million traded contracts and attracting more than 20,000 users.
Although those numbers remain far smaller than competitors like Polymarket and Kalshi, Gemini said prediction market activity continued accelerating into April.
The company sees prediction contracts as part of a larger long-term strategy to transform from a crypto exchange into a broader financial marketplace handling futures, perpetuals, event contracts, and derivatives.
Credit Card and Services Revenue Surges
One of the strongest growth areas came from Gemini’s services and interest revenue segment, which includes staking, custodial products, and credit cards.
That division grew over 120% year-over-year to $24.5 million, accounting for nearly half of total company revenue.
Gemini’s crypto-linked credit card alone generated $14.7 million in revenue, representing a 300% increase from last year.
Despite the revenue growth, Gemini still posted a $109 million quarterly net loss as overall crypto trading activity weakened sharply. Total exchange trading volume fell from $13.5 billion last year to $6.3 billion this quarter.
Still, Gemini executives argued the company is positioning itself for the next phase of digital finance by expanding into regulated derivatives and AI-driven financial infrastructure.
