Coinbase (COIN) agrees to buy The Clearing Company to deepen prediction markets push
Coinbase is acquiring The Clearing Company to bolster its newly launched prediction market operations.Summary
Coinbase has agreed to purchase The Clearing Company, a San Francisco-based startup led by Toni Gemayel, to accelerate the growth of its prediction market business. This acquisition is part of Coinbase's broader strategy to establish itself as an "Everything Exchange" offering diverse assets, including stocks, perpetual futures, and prediction markets. The deal is expected to close in January and brings in a team with specialized expertise in building and scaling event-based trading systems, including veterans from Polymarket and Kalshi. Prediction markets are gaining traction, with weekly notional volume exceeding $4 billion. Coinbase recently partnered with Kalshi to allow users to trade on real-world events. Notably, The Clearing Company had previously raised $15 million in a seed round that included participation from Coinbase Ventures and had applied for a clearinghouse license from the CFTC.
(Source：CoinDesk)