The tokenized equities product will launch in-house without external partners, Bloomberg reported Thursday.
Crypto News
Coinbase Global is planning to announce prediction markets and tokenized equities products on Dec. 17, according to a Bloomberg report citing a source familiar with the matter. The exchange will unveil both offerings at a showcase livestream next week.
The tokenized equities product will launch in-house without external partners, Bloomberg reported Thursday. A Coinbase spokesperson declined to confirm the report directly but stated, "Tune in to the livestream on Dec. 17 to find out what new products Coinbase is shipping."
The exchange had previously hinted at such product launches. Screenshots that recently circulated on social media platform X appeared to show the app displaying these new functionalities before any official announcement.
The move aligns with major crypto players entering the emerging prediction market sector. Kalshi and Polymarket currently operate a duopoly in the space, with their combined volume growing rapidly from approximately $1.3 billion in August to $7.7 billion in monthly volume by November.
Crypto exchange Gemini announced earlier this week that it received approval from the Commodity Futures Trading Commission to operate a Designated Contract Market. The authorization clears the way for Gemini to launch an event contracts platform competing in the prediction market space.
Another major exchange, Crypto.com, inked a partnership with sports apparel giant Fanatics to launch a fan-led prediction market platform earlier this month. The partnerships signal growing institutional interest in prediction markets as a product category.
COIN stock fell 2.2% on Thursday to close at $269.02. The decline came amid broader market movements rather than as a reaction to the Bloomberg report, which was published after market close.
Coinbase's entry into prediction markets represents a strategic expansion beyond traditional crypto exchange services. The platform's existing user base and regulatory relationships could accelerate the adoption of prediction market products among mainstream crypto traders already familiar with the exchange interface.
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