Coinbase Rolls Out Prediction Markets Nationwide Through Kalshi
What Changed in Coinbase’s Prediction Markets Rollout?
Coinbase has expanded access to prediction markets across all 50 U.S. states through its partnership with Kalshi, moving beyond an earlier, limited rollout. The nationwide availability follows an initial launch last month that introduced event-based contracts to a subset of users.
Under the current setup, all prediction market liquidity on Coinbase is sourced from Kalshi, a platform regulated by the U.S. Commodity Futures Trading Commission. At launch, Coinbase said it plans to support over time, though no specific timeline has been disclosed.
Users can trade contracts tied to real-world outcomes, including politics, sports, entertainment, culture, and economic indicators. Positions are managed alongside crypto, equities, and cash balances within the identical interface, with minimum trade sizes begining at $1 in USD or USDC.
Investor Takeaway
Why Prediction Markets Are Gaining Traction
The full U.S. rollout comes amid a sharp rise in prediction market activity. Combined trading volumes on leading platforms such as Polymarket and Kalshi reached tens of billions of dollars last year and are tracking toward new highs again this month, according to data cited by The Block.
Prediction markets whose prices reflect the collective probability assigned to a specific outcome. Supporters argue that these markets aggregate information efficiently, while critics point to regulatory, ethical, and market-integrity concerns. Regardless of the debate, user interest has accelerated as platforms expand the range of tradable events.
The growth has not gone unnoticed by traditional finance and fintech firms. CME Group has entered the space through its partnership with FanDuel, while retail platforms such as Robinhood and Webull have also added prediction markets as a product category. Goldman Sachs has disclosed that it is exploring opportunities in the area as well.
How Prediction Markets Fit Into Coinbase’s Broader Strategy
For Coinbase, prediction markets sit within a broader effort to broaden its product set beyond spot crypto trading. The platform has increasingly framed itself as a single platform where users can access multiple asset types, including stocks, derivatives, stablecoins, payments, and tokenized assets.
By integrating into its main interface, Coinbase reduces friction for existing users who may already hold crypto or cash balances on the platform. This approach allows event-based trading to function as an extension of existing activity rather than a standalone product that requires separate onboarding.
Last month, Coinbase reinforced this direction by announcing the acquisition of The Clearing Company, founded by Toni Gemayel, who previously worked on growth initiatives at both Polymarket and Kalshi. The acquisition was described as part of Coinbase’s effort to scale its prediction markets business.
Investor Takeaway
What the Nationwide Launch Means for the Market
The move to nationwide availability places Coinbase among the largest distribution channels for prediction markets in the U.S. Unlike standalone platforms, Coinbase can tap into an existing user base accustomed to trading and managing multiple asset types in one place.
That reach may intensify competition among , especially if Coinbase follows through on plans to add support for additional platforms beyond Kalshi. It may also draw greater regulatory attention as event-based trading becomes more accessible to retail users at scale.
While prediction markets remain a relatively small portion of Coinbase’s overall business, the rollout reflects a calculated bet that event-driven contracts will become a durable part of retail trading. Whether that translates into sustained revenue growth will depend on user behavior, regulatory clarity, and how broadly the product expands beyond ahead adopters.
