Coinbase to Integrate Predictive Markets in Collaboration with Kalshi

Coinbase has announced a ‘new era’ for the cryptocurrency exchange, with exciting product announcements coming on December 17. The company revealed the updates in response to inquiries about information leaks that seemingly indicate the platform is testing predictive markets and stock trading features.

Jane Manchun Wong, a technology blogger and consultant, posted screenshots on Wednesday that appeared to show Coinbase’s predictive market.

It seems that Coinbase’s prediction platform will be offered through integration with Kalshi, the second-largest predictive market by trading volume, according to Dune, behind Polymarket.

Wong also shared screenshots suggesting that Coinbase is exploring the possibility of offering trading in common stocks and ETFs through its app. Specific stocks were not displayed. She added that public access to the predictive market integration was apparently revoked after her shared post on social media.

Wong stated that she obtained these images by reverse engineering publicly available code from the application on Coinbase’s website. Wong has gained recognition for uncovering new features and functionalities of technology platforms and popular applications, such as testing Facebook’s dating feature and discovering Airbnb’s flight integration feature.

Coinbase has not denied the leak of information.

Earlier this month, Kalshi selected Coinbase Custody to safeguard its USDC stablecoin. A full integration of Kalshi’s market would be a significant step forward in this relationship.

Predictive markets allow users to predict the outcomes of real-world events by putting money at stake. They are currently very popular, generating billions of dollars in trading volume as more platforms enter this space. Kalshi has generated $17 billion in total volume to date, according to Dune, while Polymarket has processed $34.39 billion.

As for stock trading, this is a feature that crypto platforms have been experimenting with for years. In June, the trading app Robinhood launched tokenized stocks, including an offering of tokenized equity for several private companies. Kraken and other platforms also offer tokenized stocks, referred to as xStocks.