Coinbase is preparing to roll out an internal prediction market using Kalshi technology, with a formal announcement to take place later this week, a source told CNBC.
The launch is reportedly driven by the crypto exchange's desire to diversify the assets available on its platform.
Key Takeaways
- Coinbase is reportedly preparing to launch prediction markets through a partnership with Kalshi.
- The product supports Coinbase's strategy to expand into multiple asset classes beyond traditional cryptocurrency trading.
- The launch comes amid increased competition and softer investor sentiment across digital asset markets.
Although the reported partnership will not be exclusive, Kalshi will be the lone provider of prediction markets working with Coinbase.
Sources told CNBC the product is set to be launched during a "Coinbase System Update" event Dec. 17.
Rumors of a launch intensified in mid-November with a supposed screenshot of a prediction markets interface for Coinbase posted to X by a Silicon Valley researcher Nov. 18.
Coinbase is working on Prediction Market pic.twitter.com/0T3HwdXmDy
— Jane Manchun Wong (@wongmjane) November 18, 2025
The upcoming launch aligns with Coinbase CEO Brian Armstrong's vision to make Coinbase an "everything exchange." Such a move will make Coinbase a one-stop platform where crypto tokens, tokenized stocks, and event-driven contracts can be transacted.
Coinbase declined to comment to CNBC, but a spokesperson said to tune in to the event later this week. It is unknown when the markets would become available to users.
With this approach, Coinbase will face increased competition from other exchanges such as Robinhood, Gemini, and Kraken.
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Kalshi helps establish industry coalition
In addition to partnerships with major trading companies, Kalshi is working to establish a level of industry advocacy via the founding of the Coalition for Prediction Markets.
The new coalition consists of Kalshi, Crypto.com, Robinhood, Coinbase, and Underdog. Its creation comes during a time of market regulation is increasing.
The coalition is positioning itself as a unified voice in support of transparency, market integrity, and consumer protection while opposing misinformation about how prediction markets function and operate under regulation.
As explained by Kalshi founder Tarek Mansour, participation in prediction markets remains on the upswing, with millions of Americans participating either directly as traders or indirectly as observers.
He highlights the increased usage of forecasting models among economists, journalists, policymakers, and mainstream media institutions, wherein they increasingly cite prediction markets.
Matt David, executive board member of the coalition and chief corporate affairs officer at Crypto.com, said, “As consumer interest accelerates and regulation evolves, this coalition will champion responsible, transparent growth to ensure the benefits of prediction markets reach the broader public.”
One of the primary objectives of this coalition's advocacy efforts is to distinguish between prediction markets and other forms of gaming, such as casinos and sportsbooks, by emphasizing the information and price discovery functions in the context of ongoing debate over event contracts in the U.S.
