Gemini plans to launch prediction market contracts, and the stock price has halved after the IPO

According to The Block, Bloomberg reported on Tuesday that the cryptocurrency exchange Gemini plans to launch prediction market contracts. It was reported that Gemini previewed this new business in a filing ahead of its IPO in September, stating that its goal is to launch event contracts for "economic, financial, political, and sports predictions."

It is reported that Gemini's stock closed down 8.43% on Tuesday, at $16.29, which is a 55.97% drop from the opening price of $37 after the IPO. Additionally, Gemini will release its first financial report as a public company on November 10.