Just days after launching prediction markets on its platform, Coinbase is adding a new team to take its plans “to the next level.”
Key Takeaways
- Coinbase’s agreement to acquire a prediction market startup company is set to be finalized in January.
- The crypto exchange launched prediction markets, including sports event contracts, last week.
- The Clearing Company is run by executives with experience at Kalshi and Polymarket.
The largest cryptocurrency exchange in the U.S. announced plans Monday to acquire The Clearing Company, a predictions market startup that’s joined a growing space with the likes of Kalshi, Polymarket, and now DraftKings and FanDuel.
First we announced prediction markets on Coinbase.
— Coinbase 🛡️ (@coinbase) December 22, 2025
Now we’re bringing in the specialized talent to take our plans to the next level.
Welcome to Coinbase, @theclearingco. pic.twitter.com/KfRZSp9w9j
Coinbase says The Clearing Company is “innovating at the frontier of regulated, onchain markets.” The acquisition will help Coinbase “power and scale prediction markets.”
The deal is expected to be finalized in January. Financial terms were not disclosed.
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Veteran leadership
The Clearing Company is run by CEO and founder Toni Gemayel, whom Coinbase called “a visionary product and growth leader who helped shape the modern prediction markets landscape.”
Gemayel formerly served as head of growth at both Kalshi and Polymarket. Several other executives listed on The Clearing Company’s website have worked with those two prediction platforms.
“Toni and the team will help scale world-class prediction markets trading on Coinbase and accelerate our ambitions for this exciting category as part of the Everything Exchange,” Coinbase said in its press release.
That was fast.
— Toni Gemayel (@tonigemayel) December 22, 2025
From our very first conversation it was clear that we shared a vision for where prediction markets are going and that Coinbase + Clearing would be a formidable fit.
I can think of no better venue to bring regulated prediction markets onchain. https://t.co/qzJEUNsO7W
Busy space
The last week has been a big one for the prediction market industry. DraftKings Predictions, run by a sports betting operator with the second-largest U.S. market share, launched last Friday. FanDuel Predicts, from America’s gaming market-share leader, Flutter Entertainment, began operating Monday.
Coinbase entered the predictions market last week when event contracts on sports, economics, politics, and other categories began appearing on its platform through a partnership with Kalshi, one of the leading trading exchanges in the world. Coinbase did not reveal how the acquisition of The Clearing Company will affect the agreement with Kalshi.
The Clearing Company applied last month to become a derivatives clearinghouse with the Commodities Futures Trading Commission (CFTC).
Coinbase wasted little time making waves in the industry by filing lawsuits against Michigan, Illinois, and Connecticut, three jurisdictions with legal sports betting. The exchange claims it is regulated by the CFTC and not state officials, which could charge Coinbase with offering illegal sports event contracts.
Kalshi, Robinhood, and Crypto.com have run into similar issues and have also challenged multiple states, including a lengthy battle in Nevada, over the last several months.
