Gemini said it will exit the UK, European Union and Australia while cutting 25% of its workforce, as it refocuses growth efforts on the United States.
The US-based crypto exchange said artificial intelligence-driven efficiency gains and weak demand in overseas markets made continued operations in those regions unjustifiable.
“These foreign markets have proven hard to win in for various reasons, and we find ourselves stretched thin with a level of organisational and operational complexity that drives our cost structure up and slows us down,”
Gemini said in its announcement.
“We don’t have the demand in these regions to justify them; the reality is that America has the world’s greatest capital markets,”
The company added.
Gemini said it will instead prioritise its US business and the expansion of its prediction market platform, Gemini Predictions, which launched in December 2025.
The shift comes as prediction markets gain traction, with Gemini reporting more than 10,000 users and $24 million in trading volume on the platform since launch.
The sector remains dominated by Polymarket and Kalshi, which together account for the majority of global prediction market trading volume, according to Dune.