Coinbase Set For Prediction Markets Reveal With Kalshi Next Week As Rivals Crowd The Space: Report

• Coinbase declined to confirm the reports and pointed to its Dec. 17 system update.
• The potential launch fits its strategy to expand beyond crypto trading.
• Prediction markets have expanded rapidly, drawing interest from trading platforms and putting pressure on traditional sportsbooks.

Coinbase is reportedly set to announce an in-house prediction markets product as early as next week, powered by U.S.-based operator Kalshi, as the crypto exchange accelerates its push beyond digital assets.

Speculation Builds Ahead Of System Update

The crypto firm declined to confirm the report by CNBC and did not comment on the timing of any launch, but said users should tune into its “Coinbase System Update” event scheduled for Dec. 17.

Speculation around the product has circulated for nearly a month. In November, researcher Jane Manchun Wong shared what appeared to be screenshots of a Coinbase prediction markets dashboard on X. 

The company could also unveil a tokenized stock offering at the Dec. 17 event, according to a report by Bloomberg.

‘Everything Exchange’ Push

The reported launch aligns with Coinbase’s broader ambition to become an “everything exchange,” offering access to crypto assets, tokenized stocks and event-based contracts on a single platform. CEO Brian Armstrong told investors in May that Coinbase aims to grow into a leading financial services app over the next decade, CNBC noted.

Rivals Expand Into Prediction Markets

Coinbase’s expansion comes as competition intensifies from rivals such as Robinhood, Gemini and Kraken, which have rolled out tokenized equity products outside the U.S. and explored prediction markets. 

At the same time, the broader prediction markets space has grown more crowded, with platforms like Polymarket and Robinhood scaling rapidly across contracts linked to markets, politics and sports.

The rise of event-based trading has also begun to pressure traditional sportsbooks. Companies including DraftKings and Flutter, which owns FanDuel, have said they plan to introduce their own prediction market products as the sector gains wider acceptance.

Kalshi’s Rapid Expansion

For Kalshi, the reported partnership would further extend its push to embed prediction markets across major trading platforms. The company already supplies prediction markets to Robinhood under a non-exclusive agreement and has held talks with other brokerages, including crypto firms, about similar deals.

Kalshi’s profile has risen sharply in recent months. Last week, the company raised $1 billion at an $11 billion valuation in its third funding round of 2025, led by Paradigm and backed by investors including Sequoia, Andreessen Horowitz, ARK Invest and CapitalG. 

The funding reportedly made co-founders Tarek Mansour and Luana Lopes Lara paper billionaires.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment was ‘bullish’ for Coinbase amid ‘normal’ message volume, while sentiment around Kalshi was ‘extremely bearish’ amid ‘extremely low’ message volume.

Coinbase’s stock has risen 9% so far this year. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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