Coinbase has partnered with Kalshi to roll out access to prediction markets on its platform in the US.
The update was publicised alongside a series of launches announced by the crypto exchange on Wednesday, 17 December, including stock trading, futures trading, Coinbase Business and Coinbase Advisor.
Last week Kalshi and Coinbase, alongside Robinhood, Crypto.com and Underdog, unveiled a trade body to promote “fair, safe and open access” to prediction markets.
The Coalition for Prediction Markets (CPM) plans to reinforce federal, or CFTC, oversight, while defending against state-level action.
Kalshi has already gone live with a crypto partnership this week, striking a deal with Phantom to allow its users to trade tokenised versions of the prediction market’s event contracts.
Coinbase said in a statement: “This offers a unique way for Coinbase users to engage with global events, whether you’re forecasting the next big political shift or the outcome of a championship game.
“You will be able to manage your prediction market positions alongside your existing crypto, equities and cash balances in the same trusted, simple and unified interface you know.”
After Coinbase CEO Brian Armstrong hailed prediction markets as a “better source of truth” than “traditional media”, the crypto exchange first indicated its intention to expand into prediction markets in August.
Coinbase said it plans to support contracts from other prediction market platforms in the coming months.
The exchange added that all prediction market flow would come from Kalshi at the point of launch.
The post Coinbase unveils prediction markets offering via Kalshi partnership first appeared on EGR Intel.
The deal will allow Coinbase users to trade on the outcomes of “real-world events like elections, sports, collectibles and economic indicators”
The post Coinbase unveils prediction markets offering via Kalshi partnership first appeared on EGR Intel.