The cryptocurrency exchange Coinbase is creating a prediction market platform website, with screenshots showing that the platform will be supported by Kalshi.
Technical researcher and blogger Jane Manchun Wong, known for discovering features in development on major tech websites, posted on X on Tuesday that Coinbase "is developing a prediction market" and shared several screenshots that apparently showcase the platform.
One of the screenshots shows that the prediction market is provided by Coinbase Financial Markets, the derivatives division of Coinbase Global, through the prediction market Kalshi.
Other images display a typical prediction market interface featuring the Coinbase logo, as well as a FAQ section and a brand guide explaining the product.
Coinbase told CNBC in July that it plans to offer a prediction market as part of its initiative to build a "one-stop exchange." Coinbase and Kalshi established a partnership on November 13, with the exchange serving as the custodian for Kalshi's USDC-based event contracts.
Coinbase and Kalshi did not immediately respond to requests for comment.
Wong is known for discovering unreleased features of platforms by searching public source code, including Facebook, Instagram, and X.
In the screenshots shared by Wong, Coinbase apparently will allow the use of USDC or dollars on the prediction market, covering events related to economics, sports, science, politics, and technology. It also hints at regularly adding new markets.
Prediction markets have become one of the hottest crypto products this year, with trading volumes surging on platforms like Kalshi and Polymarket.
Many of Coinbase's cryptocurrency exchange competitors have also been seeking to capitalize on this trend by partnering with existing platforms or developing their own products.
Crypto.com recently launched a prediction market platform that will integrate with Trump Media.
The cryptocurrency exchange Gemini also plans to launch a prediction market platform as part of its initiative to create a "super app" and stated last week that it has applied to the U.S. Commodity Futures Trading Commission (CFTC) to become a designated contract market to offer the platform.
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Original: “Technical researcher claims Coinbase is developing a prediction market website supported by Kalshi”
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