Coinbase is reportedly preparing to launch its own prediction markets, powered by US trader Kalshi, in a move that could expand the types of assets available on the exchange amid cooling investor interest in cryptocurrencies, according to reports from Bloomberg and CNBC.
The announcement is expected to come next week, coinciding with Coinbase’s “Coinbase System Update” showcase on December 17. While the exchange declined to confirm specific details, it encouraged users to tune into the livestream for updates.
Rumors about the new prediction markets have been circulating for almost a month. In mid-November, technology researcher Jane Manchun Wong shared a screenshot of what appeared to be Coinbase’s market prediction dashboard.
The Information first reported on the planned launch on November 19, and Bloomberg later cited a source who said the event would also include the launch of tokenized stocks.
Coinbase as an ‘everything’ exchange
Coinbase’s moves align with CEO Brian Armstrong’s long-stated vision of building an “everything exchange”: a single platform offering access to crypto tokens, tokenized stocks, and event-based contracts.
Armstrong told investors in May that Coinbase aims to become a leading financial services app in the next decade.
The exchange is accelerating these initiatives amid growing competition from companies like Robinhood, Gemini, and Kraken.
Over the past year, these platforms have expanded tokenized stock offerings outside the US and explored prediction markets, reflecting growing demand for alternative trading instruments.
The time also comes when investor sentiment towards digital assets has cooled. A wave of liquidations in highly leveraged positions in mid-October triggered a pullback in the cryptocurrency market, prompting some investors to shift capital to safer assets.
For Kalshi, the partnership marks another step in its strategy to integrate event contracts into major trading platforms.
Earlier this year, the company listed its prediction markets on Robinhood and is reportedly in talks with other brokers, including cryptocurrency brokers, to expand its reach.
Prediction markets allow users to speculate on outcomes ranging from elections to sports games, and have become increasingly popular over the past year. Both traditional exchanges and crypto platforms are now exploring them as a new way to engage traders.
Gemini recently received approval to implement its own prediction markets, while Crypto.com has partnered with Trump Media & Technology Group on similar initiatives.
Coinbase’s planned internal tokenized stock offerings would put it on par with competitors like Robinhood and Kraken, which currently offer similar products outside the US.
