Game of Prediction Thrones: Coinbase, Crypto.com, Gemini Join the Battle
Major players like Coinbase, Gemini, and CZ's ecosystem are aggressively entering the burgeoning $15 billion prediction market space.Summary
The competition for the $15 billion prediction market throne is intensifying as major entities expand their offerings. Coinbase is preparing to launch in-house prediction markets and tokenized equity services as part of its "everything app" strategy. Simultaneously, Kalshi and Crypto.com announced the formation of the Coalition for Prediction Markets (CPM) with founding members including Coinbase and Robinhood, aiming to establish a unified federal regulatory framework.
Gemini secured approval from the CFTC for a derivatives exchange, enabling event contract trading, which caused its shares to surge. Changpeng Zhao (CZ) is also expanding through BNB Chain and Trust Wallet, which integrated a prediction market feature reaching 220 million users. Furthermore, Trump Media & Technology Group plans to launch "Truth Predict" on Truth Social, utilizing Crypto.com Derivatives North America for processing bets.
Investor interest is high, with Kalshi's valuation doubling and Polymarket reportedly seeking a $15 billion valuation. Despite this growth, regulatory uncertainty persists, highlighted by Kalshi's lawsuit against New York's gaming commission over jurisdiction.
(Source：BeInCrypto)