Coinbase is preparing to unveil a major expansion of its trading platform, with plans to launch a prediction market powered by U.S.-regulated event-contracts operator Kalshi, according to sources cited by CNBC.
The move represents one of Coinbase’s most significant steps toward becoming an “everything exchange,” offering users access to a broader set of financial instruments beyond traditional crypto trading.
Sources say Coinbase and Kalshi will formally announce the partnership as early as next week. While the agreement is non-exclusive, Kalshi will be the only prediction market provider integrated with Coinbase at launch.
The product is expected to be showcased during the company’s “Coinbase System Update” event on December 17, where the exchange will also announce support for tokenized stock trading, according to reports from The Information and Bloomberg.
Speculation intensified last month after a leaked screenshot, posted by researcher Jane Manchun Wong, appeared to show a Coinbase interface for prediction markets. Coinbase declined to confirm the reports but encouraged users to tune in to next week’s event.
The launch comes as Coinbase accelerates its ambition to become a unified financial platform supporting crypto, tokenized equities, and event-driven markets.
CEO Brian Armstrong previously outlined the company’s goal to become a top global financial services app within the next decade, offering access to diverse asset classes through a single interface.
Coinbase’s move also comes at a challenging moment for the crypto industry. Market volatility, leveraged liquidations, and a shift of investor funds into gold have softened sentiment. Bitcoin recently fell to around $85,000, its lowest level since March, while Coinbase stock has dropped more than 16% over the past three months.
For Kalshi, the partnership expands its footprint as competition in prediction markets intensifies. The company already integrated its contracts into Robinhood earlier this year and has been in discussions with several other brokerages, both traditional and crypto-focused, to broaden distribution.
If successful, Coinbase’s prediction market could become one of the most widely accessible event-contract platforms globally, thanks to its massive user base and expanding ecosystem.