Coinbase Set To Push Into Prediction Markets And Tokenized Stocks

Coinbase appears close to unveiling one of its biggest product shifts to date, with plans to enter prediction markets and tokenized equities, according to a Thursday report from Bloomberg. 

The exchange is expected to make its announcement next week as part of a livestream that will feature several new offerings, though it has not confirmed whether these products will be included in the broadcast.

Coinbase Joins New Prediction Market Coalition

The timing of the report matched another notable move. Coinbase has joined the Coalition for Prediction Markets, a newly formed group organized by Kalshi and Crypto.com. The coalition aims to expand industry cooperation and speak with policymakers about keeping prediction markets open to users in the US.

Faryar Shizad, Coinbase’s chief policy officer, said the company sees prediction markets as tools that help widen access to information. He noted that the coalition can play an important role as lawmakers study how to regulate this growing area.

Kalshi, founded in 2018 by two MIT graduates, lets users trade on outcomes of real events in the same way they might trade financial assets. It has grown into one of the leading operators in the field, competing with Polymarket and Opinion. Data from Dune Analytics show Kalshi’s weekly trading volume near $1 billion.

Demand Surges Across The Sector

The broader prediction market sector has seen rapid growth this year. Weekly volumes touched a record near $4 billion last week, though some analysts have questioned how these totals are calculated. Rivals have been moving quickly to secure a presence. 

In October, Crypto.com announced that it will roll out its own prediction market tied to Trump Media. On Wednesday, Gemini received approval from the Commodity Futures Trading Commission to offer prediction markets in the US, marking a major regulatory win.

Bloomberg’s report also follows last month’s findings from tech researcher Jane Manchun Wong, who spotted early Coinbase landing pages for tokenized stocks and Kalshi powered prediction markets. Coinbase has not yet released either product.

The exchange plans to host its livestream on Wednesday, where it will showcase its upcoming features.