Prediction Markets Hit New Records as Coinbase Enters the Sector

Coinbase has officially launched its prediction market product for American users in all 50 states through a partnership with the CFTC-regulated platform Kalshi. This feature, accessible via a new "Predict" tab in the Coinbase app, allows users to wager on outcomes across sports, politics, and entertainment, aligning with Coinbase's goal to become an all-in-one financial platform. The launch coincides with prediction markets hitting new records, with weekly notional volume reaching $6.18 billion, over 357,000 active users, and 26 million transactions. Coinbase CEO Brian Armstrong views prediction markets as a crucial tool for truth-seeking, noting that having skin in the game yields more reliable outputs than agenda-driven information. Despite the overall sector growth, on-chain analysis suggests that high-conviction crypto trading on these markets has cooled slightly since early January.

(Source：BeInCrypto)