As Coinbase prepares to expand its suite of products ahead of the upcoming “Coinbase System Update,” it is planning to launch a prediction market on its platform.
While this aligns with Coinbase’s mission to efficiently serve its customers, it is planning to add the new product in collaboration with Kalshi, a CFTC regulated exchange and prediction market that allows users to trade on the outcome of real-world events.
Coinbase prepares for major event Dec. 17
While the new feature is yet to be fully confirmed by the exchange, it will be powered by Kalshi as it is expected to be unveiled as early as next week.
While the partnership is described as non-exclusive, Kalshi will reportedly serve as the sole prediction market operator integrated into Coinbase’s platform.
While Coinbase has promised to unpack exclusive new features during its upcoming “Coinbase System Update” event scheduled for Dec. 17, it appears that the feature will be officially announced during the event.
At the “Coinbase System Update,” the exchange is expected to unveil its newly proposed features, including its plans for tokenized stock offerings.
Notably, the potential update aligns with Coinbase’s broader strategy to turn its platform into a multi-asset financial marketplace rather than only a crypto exchange.
With the new prediction markets feature, Coinbase will be able to allow users to trade contracts related to real-world events, ranging from economic data releases to political outcomes.
While it is partnering with Kalshi, which operates under U.S. regulatory oversight, Coinbase will be able to offer the products within a compliant framework.
Nonetheless, Coinbase’s decision to expand into prediction markets and tokenized equities will help the exchange attract a wider audience and expand its growing user base.
