Coinbase (COIN) has rolled out its new prediction market platform to US users, allowing them to trade on the outcomes of real-world events including elections, sports, collectibles and economic indicators.
The platform, announced in December, is built in partnership with Kalshi, a U.S.-regulated prediction market operator recently valued at $11 billion. Kalshi offers event-based contracts that work like simplified derivatives: traders buy “yes” or “no” positions on specific outcomes, with the price of each contract reflecting the probability assigned by the market.
The launch, announced Wednesday in an article on X, brings prediction markets to Coinbase’s U.S. user base for the first time, just in time for one of the biggest sporting events of the year, the Super Bowl.
Prediction markets have received renewed attention over the past year, with many new entrants competing in the market. Trading volumes on platforms like Polymarket have increased as more users seek to express their political and economic views through on-chain financial products. These markets are often used to gauge public opinion and probabilities in real time, with some investors treating them as alternative data sources.
Coinbase’s entry into the space could give the industry a significant gain in visibility and liquidity, especially as it provides access to users through an existing regulated platform. The crypto exchange has long said it wants to become an “exchange of everything,” and the launch of prediction markets marks its latest move in that direction.
