Coinbase is reportedly set to launch a prediction market powered by Kalshi. The new product, alongside tokenized stock offerings, will likely be unveiled at the firm’s December 17 event.
Coinbase, the largest cryptocurrency exchange in the U.S., is reportedly preparing to launch an in-house prediction market. This new platform will be powered by Kalshi. Kalshi is one of the major federally regulated financial exchanges. This is a non-exclusive partnership. However, Kalshi will be the only prediction market operator that will be working with Coinbase to start.
Prediction Markets and Tokenized Stocks Planned for Event
The official announcement is expected to come out soon, perhaps as early as next week. Sources say Coinbase has plans to introduce the new product. This will happen at its “Coinbase System Update” event on Tuesday, December 17. The event is expected to include some huge platform expansions.
Coinbase is working on Prediction Market pic.twitter.com/0T3HwdXmDy
— Jane Manchun Wong (@wongmjane) November 18, 2025
Meanwhile, speculation about the prediction market launch has continued for nearly a month. Moreover, a Silicon Valley researcher posted a screenshot on X in November. Consequently, the image offered early indications of the product’s expected design.
Related Reading: Bitnomial Gains Regulatory Approval to Launch Crypto Prediction Markets | Live Bitcoin News
The Information first reported in November that Coinbase was planning to introduce these Kalshi-powered prediction markets. This report was later corroborated by Bloomberg. Furthermore, Bloomberg said that the cryptocurrency exchange is also likely to announce a tokenized stock offering at the same event. This is in line with a larger industry movement towards tokenization.
The expected tokenized stock offering is very important. Sources state that Coinbase will be issuing these securities using its own system. In this way, this is different than rivals using external partners. This approach gives the firm more control in terms of compliance and product design.
Coinbase refused to comment directly on these developments with CNBC. Instead, the firm encouraged stakeholders to tune in to its event to be held in the future for complete details. The company did not say when exactly the prediction markets will be accessible to users.
Strategic Move to Become ‘Everything Exchange’
Coinbase’s aggressive push is highlighted by its upcoming product launches. The firm wants to reinvent itself into an “everything exchange.” This vision is one-stop shop trading of all sorts of assets. This includes crypto tokens, tokenized stocks, and event contracts.
CEO Brian Armstrong presented investors with this “everything exchange” vision in May. He said that Coinbase would try to be a major financial service app in the next decade. This expansion is coming on the heels of increasing competition and growing worldwide interest in tokenized financial assets.
Competitors such as Robinhood, Gemini, and Kraken have already toyed with prediction markets. They have also implemented tokenized equity products in different regions. Coinbase’s move into the space is an indication that prediction markets are becoming mainstream as a financial instrument.
By the combination of prediction markets, tokenized securities, and crypto trading, Coinbase is making a statement of ambition. It aims to create a full digital assets ecosystem. Ultimately, this new platform would serve a borrower/lender, brokerage, derivatives, and blockchain function akin to a next-generation brokerage, derivatives, and blockchain service.
