Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has announced a major restructuring plan.
The company is exiting several international markets — specifically the United Kingdom, the European Union and other European jurisdictions, and Australia — to streamline operations and reduce costs. It will focus primarily on the United States and Singapore going forward.
Customer accounts in these exiting regions will be placed in withdrawal-only mode starting March 5, 2026, and fully closed by April 6, 2026. The move is described as part of “Gemini 2.0,” aiming to simplify, consolidate, and accelerate growth, particularly in the U.S. seen as having the strongest capital markets and demand and emerging areas like prediction markets.
Simultaneously, Gemini is cutting approximately 25% of its global workforce, affecting up to around 200 employees across its operations including in the U.S., Europe, and Singapore. This follows previous reductions like halving headcount from a 2022 peak of ~1,100.
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The Winklevoss twins cited challenges in foreign markets: high operational complexity, rising costs, insufficient demand to justify expansion, and a tough crypto environment. The changes are intended to lower expenses, leverage AI for efficiency in coding and non-engineering tasks, and accelerate the path to profitability — even amid current market conditions.
This restructuring reflects broader pressures in the crypto industry, including regulatory hurdles abroad, lower trading volumes, and a push for leaner operations. For affected users in the UK, EU, or Australia, Gemini has provided support details on account closures and withdrawals.
The company’s stock (NASDAQ: GEMI) saw some movement in response, with analysts noting potential positive impacts on margins from the more focused strategy. In their blog post titled “Gemini 2.0: A Bridge to the Future of Money and Markets,” the Winklevoss twins outlined a refocused vision that integrates prediction markets as a core pillar, alongside AI enhancements and operational streamlining.
The company believes prediction markets “will be as big or bigger than today’s capital markets.” They view these as a powerful mechanism to harness the “wisdom of the crowds” for forecasting real-world events, providing unique insights into the future. Gemini positions prediction markets as a “truth machine” that could transform how people engage with information and probabilities.
Gemini Predictions Platform
This is the centerpiece. Launched in mid-December 2025 after securing a U.S. Commodity Futures Trading Commission (CFTC) license; a process that took about 5 years, starting from an application in 2020, it allows U.S. users to trade event contracts on outcomes in categories.
Since launch, Gemini Predictions has attracted over 10,000 users and facilitated more than $24 million in trading volume. The platform is regulated, emphasizing transparency, market integrity, and participant protections.
Integration into a “Super App” Vision: Gemini aims to build a comprehensive “super app” for money and markets. Prediction markets will become a central feature — described as the “machine within our app to see the future” — enhancing the overall user experience beyond traditional crypto trading.
This focus on prediction markets is tied to Gemini’s simultaneous announcements:Exiting international markets (UK, EU, Australia) due to high costs, complexity, and insufficient demand. Reducing global workforce by ~25% impacting up to ~200 roles. Narrowing operations primarily to the U.S. (seen as having the strongest capital markets and regulatory clarity for innovations like prediction markets) and Singapore.
The Winklevoss twins framed this as “simplify, consolidate, then accelerate” — freeing resources to invest heavily in high-potential areas like prediction markets and AI-driven efficiencies, while accelerating the path to profitability amid a challenging crypto environment.
Gemini Predictions competes with platforms like Kalshi also CFTC-regulated and Polymarket more decentralized/crypto-native. Gemini’s regulated status and integration with its existing exchange (crypto trading, credit card, etc.) gives it a unique position, especially in the U.S. where demand for compliant event contracts has grown.
This shift positions Gemini as an early mover in what the founders see as the next major evolution in markets — blending finance, forecasting, and truth-seeking through crowd-powered probabilities.