Coinbase Develops Prediction Markets Platform with Kalshi
- Coinbase is creating a prediction markets platform, supported by Kalshi, as revealed by tech researcher Jane Manchun Wong.
- Screenshots indicate the platform will allow transactions in USDC or US dollars and cover events in various sectors including economics and sports.
- The initiative aligns with Coinbase’s goal to establish an “everything exchange,” enhancing its offerings beyond traditional trading.
- Coinbase partnered with Kalshi on November 13, acting as the custodian for Kalshi’s USDC-based event contracts.
- Other exchanges like Crypto.com and Gemini are also entering the prediction market space, reflecting a growing trend in crypto offerings.
The development of prediction markets is gaining traction within the cryptocurrency sector, with platforms like Kalshi experiencing increased trading volumes this year. Coinbase’s new platform aims to capitalize on this trend by providing a comprehensive marketplace for various event predictions.
With Coinbase set to include diverse events in its prediction markets, this move could significantly enhance user engagement and broaden its service offerings beyond traditional trading avenues.(Source)
