Key Takeaways:

• Coinbase is developing a new prediction-markets platform, with leaked screenshots showing a Coinbase-branded interface integrated with Kalshi.
• The platform is operated through Coinbase Financial Markets, allowing users to trade event outcomes using USDC or U.S. dollars.
• Rival exchanges are entering the space, including Gemini and Crypto.com.

Coinbase is quietly building a prediction-markets platform, potentially backed by Kalshi, as it expands beyond traditional cryptocurrency trading.

Screenshots shared by tech researcher Jane Manchun Wong reveal a Coinbase-branded interface and integration with Kalshi, signaling the exchange’s push into event-based contracts for economics, sports, politics, technology, and more.

The move comes amid a surge of interest in crypto prediction markets, as rival exchanges and platforms race to offer innovative trading experiences.

Coinbase and Kalshi integration

According to Wong, Coinbase will offer the prediction market through Coinbase Financial Markets, its derivatives arm.

Users may trade using USDC or U.S. dollars, and new markets are expected to be added regularly.

Coinbase previously indicated prediction markets would be part of its vision to become an “everything exchange,” and its November partnership with Kalshi positions the platform as custodian for Kalshi’s USDC-based event contracts.

The screenshots show typical prediction-market interfaces, along with FAQs and branded guides, suggesting that Coinbase aims for a user-friendly rollout.

Neither Coinbase nor Kalshi has commented publicly yet.

The growing popularity of crypto prediction markets

Prediction markets have gained momentum this year as investors seek new ways to engage with cryptocurrency platforms beyond spot trading. Platforms like Kalshi and Polymarket have reported surging volumes, attracting both retail and institutional participants.

By offering event-based contracts, exchanges provide users with speculative opportunities that combine entertainment with hedging potential.

This trend is driving competitors to launch similar offerings. Gemini is developing a prediction markets platform as part of its “super app” strategy and has filed with the Commodity Futures Trading Commission to become a designated contract market.

Meanwhile, Crypto.com has planned to launch a prediction market integrated with Truth, a social media platform founded by U.S. President Donald Trump, thereby expanding access to trading on political and social events.

A competitive environment emerging in 2025

Coinbase’s entry into prediction markets underscores the growing competitiveness of the cryptocurrency ecosystem.

By leveraging Kalshi’s regulated infrastructure, stablecoin liquidity, and its own derivatives platform, Coinbase can offer users a secure and compliant way to trade event contracts.

As other exchanges like Gemini and Crypto.com innovate with prediction markets, the space is evolving rapidly.

For users, these developments mean more options to trade on outcomes beyond traditional assets, while exchanges aim to create all-in-one financial ecosystems that capture trading, staking, and event-based speculation under one roof.