Coinbase to Launch Prediction Market with Kalshi Partnership

Coinbase, the largest US cryptocurrency exchange, plans to launch a prediction market in collaboration with Kalshi. This move aligns with Coinbase's goal to become an "everything exchange." The announcement is expected at the "Coinbase System Update" event on December 17.

A screenshot of Coinbase’s prediction markets dashboard was shared by researcher Jane Manchun Wong, hinting at upcoming features.
Bloomberg reports that Coinbase may also announce a tokenized stock offering during the same event.
Coinbase aims to expand its platform to include cryptocurrencies, tokenized stocks, and event contracts.

This initiative comes as Coinbase faces competition from platforms like Robinhood, Gemini, and Kraken, which are exploring similar markets.

Coinbase has made significant acquisitions, including Deribit and Spindl, to broaden its financial instruments.
The company's stock (COIN) has dropped over 39%, currently valued at $267 per share.

Coinbase

This expansion follows a retracement of major cryptocurrencies like Bitcoin (BTC) by over 30% since October, amid fears of a new bear market.