Coinbase is developing a regulated prediction markets platform, linked to Kalshi, to offer event-based trading across multiple sectors and potentially use USDC or USD within Coinbase’s ecosystem.

Leaked visuals and tech researcher observations indicate Coinbase Financial Markets, a Coinbase subsidiary, will collaborate with Kalshi to bring the platform to market.

Screenshots show Coinbase branding, an FAQ, and a branded guide, suggesting a US-dollar or USDC basis with markets spanning economics, sports, science, politics, and technology, with new markets added regularly.

Coinbase (COIN) has posted a 4.6% year-to-date gain, with a high valuation multiple and a Value Score of F, indicating elevated risk relative to peer benchmarks.

The coverage frames the move as part of Coinbase’s strategy to diversify revenue streams and compete with broader fintech platforms.

Hidden code and screenshots point to rapid ongoing development, with new sections being added as progress continues.

Prediction markets are gaining mainstream attention in crypto, signaling deeper integration of crypto assets into traditional financial markets.

Rivals like Robinhood are expanding into prediction markets and related products, including tokenized stock offerings in the EU in 2025.

Analysts note mixed earnings and revenue revisions for 2025–2026, with a Hold rating and mixed forecasts for Coinbase.

Analysts’ consensus remains cautiously optimistic on Coinbase, with a Moderate Buy and a roughly $400 price target suggesting meaningful upside.

Market chatter highlights currencies such as USDC or USD and potential new markets, signaling growing demand for prediction-market capabilities in crypto.

Industry context shows rising volumes in prediction markets, with Kalshi and Polymarket leading, and other exchanges pursuing similar platforms.