Coinbase is set to unveil an integrated prediction market, developed with Kalshi, a platform specializing in event contracts, according to information reported by CNBC. The announcement could come as soon as December 17, during the "Coinbase System Update" event. This strategic project marks a new step for Coinbase, which is seeking to diversify its offering amid a slowdown in the crypto-asset market.
The new service will enable users to wager on real-world events via event contracts, broadening Coinbase's vision as a "universal exchange," blending cryptocurrencies, tokenized equities and predictive products. Rumors of such a launch have circulated since November, backed by a screenshot of the alleged dashboard shared by researcher Jane Manchun Wong. The Information and Bloomberg have since confirmed the project's existence, also mentioning the possible arrival of a tokenized stocks offering at the same event.
Coinbase has not yet commented officially, but this launch fits into a strategy outlined by CEO Brian Armstrong, who aims to make the company a global financial services platform within ten years. In a context of heightened volatility in the crypto market, with Bitcoin falling to $85,000 in early December and Coinbase stock down 16% over three months, the initiative reflects a willingness to adapt. The partnership also represents a step forward for Kalshi, already a partner of Robinhood, which seeks to extend its event contracts to as many regulated platforms as possible.
