Coinbase has announced the acquisition of startup prediction markets platform The Clearing Company, one week after rolling out Kalshi-powered markets on its app.
Led by founder and former Kalshi and Polymarket head of growth Toni Gemayel, the startup will help scale Coinbase’s prediction markets trading and add to the Eveything Exchange platform.
Other Kalshi and Polymarket alumni have joined The Clearing Company this year, including ex-Polymarket head of engineering Liam Kovatch.
Coinbase said: “We have an opportunity to enable millions of customers around the world to seamlessly participate in prediction markets right alongside their cash, crypto, equities and derivatives portfolios.
“The Clearing Company adds the specialised talent needed to take this category further.
“Toni and the team will help scale world-class prediction markets trading on Coinbase and accelerate our ambitions for this exciting category as part of the Everything Exchange.”
The transaction is subject to standard closing conditions and is expected to finalise in January.
Last week, the crypto exchange began rolling out access to prediction markets on its platform via a partnership with Kalshi.
Coinbase users will be able to trade on the outcomes of real-world events using the same interface on which they trade crypto, derivatives and equities.
In August, The Clearing Company secured $15m in a seed funding round led by Union Square Ventures and featuring participation from Coinbase Ventures and Hauen Ventures.
The startup is not yet licensed with the Commodity Futures Trading Commission (CFTC).
Coinbase said the “Everything Exchange” would be the unified place where people traded every asset class, and that “prediction markets are a natural fit for this vision”.
The post Coinbase acquires startup to scale prediction markets offering first appeared on EGR Intel.
Crypto exchange said The Clearing Company was a “prediction markets company innovating at the frontier of regulated, on-chain markets”
The post Coinbase acquires startup to scale prediction markets offering first appeared on EGR Intel.