Insider: Kalshi to Predict Markets for Coinbase as Sole Operator
BlockBeats News, December 13th, according to CNBC citing knowledgeable sources, cryptocurrency exchange Coinbase is reportedly preparing to launch an internal prediction market, a product that will be supported by the prediction platform Kalshi. This move is part of Coinbase's strategic plan to expand the exchange platform's asset category coverage as some investors are avoiding digital assets.
The source stated that Coinbase and Kalshi are expected to officially announce their partnership soon, with the earliest announcement possibly next week. The collaboration is not an exclusive agreement, but initially, Kalshi will be the sole operator of the prediction market on Coinbase.
According to The Information, Coinbase is set to release this product during the "Coinbase System Update" event on December 17th. Bloomberg also mentioned that Coinbase will announce the launch of tokenized stock products during the event.
Coinbase has declined to confirm the related reports to CNBC but stated that they can follow up during their event next week.
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