Coinbase (COIN) has rolled out its new prediction market platform to U.S. users, enabling them to trade on the outcomes of real-world events including elections, sports, collectibles, and economic indicators.
The platform, announced in December, is built in partnership with Kalshi, a U.S.-regulated prediction market operator recently valued at $11 billion. Kalshi offers event-based contracts that function like simplified derivatives—traders buy “yes” or “no” positions on specific outcomes, with the price of each contract reflecting the probability assigned by the market.
The launch, which the crypto exchange announced in a post on X on Wednesday, brings prediction markets to Coinbase’s U.S. user base for the first time, just in time for one of the biggest sports events of the year, the Super Bowl.
Prediction markets have gained renewed attention in the past year with many new entrants competing in the market. Trading volumes on platforms like Polymarket have surged as more users look to express political and economic views through on-chain financial products. These markets are often used to gauge real-time public sentiment and probabilities, with some investors treating them as alternative data sources.
Coinbase’s move into the space could give the sector a significant boost in visibility and liquidity, particularly as it offers access to users through an existing regulated platform. The crypto exchange has long said it wants to become an “everything exchange,” and the launch of prediction markets marks its latest move in that direction.