Coinbase Rolls Out Prediction Markets Across All US States Through Kalshi Partnership
Following its December announcement about expanding into prediction markets, Coinbase has now made its platform available nationwide, covering "sports, politics, culture and more" through its Kalshi collaboration.
The cryptocurrency trading platform Coinbase has declared the nationwide deployment of its prediction markets service across every US state through a collaborative venture with Kalshi.
Through a post shared on X this Wednesday, Coinbase revealed it was making available trading opportunities on "any real-world outcomes across sports, politics, culture and more" as it launches its prediction markets feature. This development comes after the exchange unveiled its intentions for onchain prediction markets through a Kalshi partnership back in December.
Prediction market platforms such as Kalshi and Polymarket utilize event contracts that enable participants to place wagers on outcomes spanning various subjects, ranging from athletic competitions to political developments in the United States, with each event's probability determined through user engagement. This rollout arrives approximately one week ahead of the Super Bowl, which ranks among the most significant sporting spectacles in the United States.
December also saw Coinbase reveal its purchase of The Clearing Company as a component of its broader strategy to penetrate the prediction markets sector. This strategic decision aligned with the firm's ambitions to transform into an "everything exchange," featuring diverse services such as equity trading, tokenized asset offerings and prediction market capabilities.
This is a developing story, and further information will be added as it becomes available.