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Parts are similar, such as the math is essentially the same. But the verbal is different. GRE does the typical analogy/matching BS but that does not exist on the GMAT. Instead, the GMAT has an essay section where you are graded by a computer, and this section is practically impossible to 'study' for. But the results do not become a part of your overall score. The essays are scored separately and become a part of your file when you forward the results to your schools, so admissions can view what you wrote. GMAT is also very expensive >$200 to take so you don't want to screw around with it.
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