Coinbase will soon have prediction markets and tokenized stocks.
Coinbase is reportedly preparing to launch its own prediction market led by US-based operator Kalshi, in a move that could expand the asset types available on the exchange amid cooling investor interest in cryptocurrencies, according to reports from Bloomberg and CNBC.
The announcement is expected to be made next week to coincide with Coinbase’s “Coinbase System Update” showcase on December 17th. The exchange declined to confirm specifics but encouraged users to watch the live stream for updates.
Rumors about a new prediction market 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 prediction markets dashboard.
The Information first reported the launch plans on November 19, with Bloomberg later citing sources saying the event would also feature a tokenized stock launch.
Coinbase as the ‘everything’ exchange
Coinbase’s move is consistent with CEO Brian Armstrong’s long-held vision of building an “everything exchange,” a single platform that provides access to cryptocurrency tokens, tokenized stocks, and event-based contracts.
Armstrong told investors in May that Coinbase aims to become a leading financial services app within the next 10 years.
The exchange is accelerating these initiatives amid increasing competition from companies like Robinhood, Gemini, and Kraken.
Over the past year, these platforms have expanded their tokenized stock offerings outside the U.S. and explored prediction markets, reflecting the growing demand for alternative trading vehicles.
It is also a time when investment sentiment toward digital assets has cooled. A wave of liquidations of highly leveraged positions in mid-October triggered a decline in cryptocurrency markets, prompting some investors to shift their capital to safer assets.
For Kalshi, this partnership is another step in its strategy to integrate event contracts into mainstream trading platforms.
Earlier this year, the company included prediction markets into Robinhood and is reportedly in discussions with other brokers, including those in crypto, to expand its reach.
Prediction markets allow users to guess the outcomes of everything from elections to sports games and have become increasingly popular over the past few years. Now, both traditional exchanges and cryptocurrency platforms are exploring this as a new way to engage traders.
Gemini recently received approval to launch its own prediction market, and Crypto.com has partnered with Trump Media & Technology Group for a similar initiative.
Coinbase’s planned in-house tokenized stock offering would put it on par with competitors like Robinhood and Kraken, which currently offer similar products outside the United States.
