Leaked screenshots shared by tech researcher Jane Manchun Wong on Tuesday indicate that Coinbase is actively developing a prediction markets platform, built on the regulated infrastructure of Kalshi. The images, posted to X, show a Coinbase-branded interface with categories for economics, politics, sports, science, and technology, suggesting users can trade using USDC or US dollars.
The platform is offered by Coinbase Financial Markets, the exchange's derivatives arm, through Kalshi, which is federally regulated by the U.S. Commodity Futures Trading Commission (CFTC). This development follows a partnership announced on November 13, where Coinbase will act as custodian for Kalshi's USDC-based event contracts, aligning with Coinbase's broader strategy to evolve into an everything exchange.
Prediction markets have experienced explosive growth in 2024 and 2025, with platforms like Kalshi and Polymarket seeing record volumes. Competitors such as Crypto.com and Gemini are also aggressively entering this sector, with Gemini filing to become a designated contract market with the CFTC.
