Coinbase is working on a Kalshi-backed prediction market: report
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Coinbase is reportedly working on launching its own prediction markets platform, as prediction markets become the next breakout niche in crypto.
An investigation from Jane Manchun Wong, who is known for uncovering unreleased features by analyzing source code and interface design, has surfaced evidence suggesting that the publicly listed crypto exchange may be developing a dedicated product for event-based trading.
Screenshots shared by Wong show what appear to be internal demo landing pages for a prediction markets platform, where users can place bets, read FAQ pages, and navigate product details, reminiscent of how platforms like Polymarket are structured.
One such page notes that the prediction markets would be offered by Coinbase Financial Markets through Kalshi, a regulated event contract exchange.
Neither of the companies has made any official statements so far, but the duo already entered into a formal partnership earlier this month that may have laid the groundwork for this expansion.
On Nov. 13, Kalshi tapped Coinbase Custody to safeguard the USDC reserves supporting its event contracts, reinforcing the infrastructure around regulated prediction markets.
Coinbase has previously expressed interest in prediction markets, and the company’s vice president of product, Max Branzburg, told CNBC in July that such offerings would be part of its long-term plan to build an “everything exchange.”
If the development is confirmed, Coinbase would join a growing roster of firms entering the space, including Crypto.com and Gemini, both of which have been building or integrating prediction markets into their ecosystems.
The Prediction markets boom
Prediction markets first saw a surge in public attention last year during the US presidential elections, as the crowd rushed to speculate on political and economic outcomes.
Polymarket, the decentralized prediction platform, became one of the biggest beneficiaries of the trend.
Although the platform had relocated offshore after being fined by the CFTC in 2022 for offering unregistered contracts, regulatory easing under the pro-crypto administration led by Donald Trump has helped pave the way for its return to the US.
Earlier this year, the Commodity Futures Trading Commission issued a no-action letter to the entities acquired by Polymarket, QCX, and QC Clearing, allowing them to legally resume operations in the country.
That decision marked a turning point, signaling to the broader industry that regulated event-based trading was not only feasible but also encouraged under federal oversight.
Since then, high-profile names across both traditional finance and the crypto sector have poured interest into the space.
Much of that momentum has translated into big-ticket investments from Wall Street, with platforms like Kalshi and Polymarket drawing in institutional funding and expanding their influence beyond crypto-native circles.
The post Coinbase is working on a Kalshi-backed prediction market: report appeared first on Invezz
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Coinbase is working on a Kalshi-backed prediction market: report
Share:
Coinbase is reportedly working on launching its own prediction markets platform, as prediction markets become the next breakout niche in crypto.
An investigation from Jane Manchun Wong, who is known for uncovering unreleased features by analyzing source code and interface design, has surfaced evidence suggesting that the publicly listed crypto exchange may be developing a dedicated product for event-based trading.
Screenshots shared by Wong show what appear to be internal demo landing pages for a prediction markets platform, where users can place bets, read FAQ pages, and navigate product details, reminiscent of how platforms like Polymarket are structured.
One such page notes that the prediction markets would be offered by Coinbase Financial Markets through Kalshi, a regulated event contract exchange.
Neither of the companies has made any official statements so far, but the duo already entered into a formal partnership earlier this month that may have laid the groundwork for this expansion.
On Nov. 13, Kalshi tapped Coinbase Custody to safeguard the USDC reserves supporting its event contracts, reinforcing the infrastructure around regulated prediction markets.
Coinbase has previously expressed interest in prediction markets, and the company’s vice president of product, Max Branzburg, told CNBC in July that such offerings would be part of its long-term plan to build an “everything exchange.”
If the development is confirmed, Coinbase would join a growing roster of firms entering the space, including Crypto.com and Gemini, both of which have been building or integrating prediction markets into their ecosystems.
The Prediction markets boom
Prediction markets first saw a surge in public attention last year during the US presidential elections, as the crowd rushed to speculate on political and economic outcomes.
Polymarket, the decentralized prediction platform, became one of the biggest beneficiaries of the trend.
Although the platform had relocated offshore after being fined by the CFTC in 2022 for offering unregistered contracts, regulatory easing under the pro-crypto administration led by Donald Trump has helped pave the way for its return to the US.
Earlier this year, the Commodity Futures Trading Commission issued a no-action letter to the entities acquired by Polymarket, QCX, and QC Clearing, allowing them to legally resume operations in the country.
That decision marked a turning point, signaling to the broader industry that regulated event-based trading was not only feasible but also encouraged under federal oversight.
Since then, high-profile names across both traditional finance and the crypto sector have poured interest into the space.
Much of that momentum has translated into big-ticket investments from Wall Street, with platforms like Kalshi and Polymarket drawing in institutional funding and expanding their influence beyond crypto-native circles.
The post Coinbase is working on a Kalshi-backed prediction market: report appeared first on Invezz
In This News
Coins
$ 0.99969
-0.01%$ 0.9985
-0.10%$ 0.9922
-0.83%Share:
In This News
Coins
$ 0.99969
-0.01%$ 0.9985
-0.10%$ 0.9922
-0.83%Share:
Read More
Canada Sweden defence pact reshapes fighter jet competition