Coinbase Global Set to Drop the Curtain on Prediction Markets
Summary
Bloomberg reports that Coinbase Global plans to launch prediction markets — and tokenised stocks — in the United States on Wednesday 17 December 2025. The firm intends to issue tokenised equities internally and expand into event contracts, potentially including sports outcomes. Coinbase has previously worked with Kalshi on a USDC custody arrangement, and its large user base (around 105 million users, 10.8 million monthly active) gives it scale advantages if it enters the sector.
Key Points
- Coinbase is reportedly preparing a US launch of prediction markets and tokenised stocks on 17 December 2025.
- The company plans to issue tokenised equities internally, keeping product control within its ecosystem.
- Coinbase previously explored a partnership with Kalshi that involved Coinbase Custody handling Kalshi’s USDC balances.
- Entry into sports-related event contracts would raise regulatory scrutiny and potential legal challenges from gaming regulators.
- Coinbase’s large and active user base provides significant commercial opportunity to scale a prediction-markets business quickly.
- Major competitors in the space include Polymarket, Kalshi and established brokers like Robinhood eyeing similar territory.
Context and relevance
Prediction markets have been gaining traction as both political/event forecasting tools and as a commercial product connected to sports betting. Coinbase moving into this area links two growing trends: crypto firms broadening into regulated financial and betting-like products, and mainstream platforms experimenting with tokenised assets. The regulatory environment — especially around sports betting and event contracts — is a critical risk that could shape how and where Coinbase deploys these products.
Why should I read this?
Quick and dirty: if Coinbase actually launches prediction markets, it could shake up both crypto and betting spaces. More users, more liquidity, and bigger regulatory headaches. Read this if you want a heads-up on a product that might change who dominates prediction markets and how regulators react.
Author’s take
Punchy: Coinbase has the scale to make this a proper industry moment. If it goes ahead, rivals will be scrambling — and regulators will be sharpening their pencils.