Coinbase predicts market expansion to all 50 states through Kalshi

According to The Block, Coinbase has expanded its prediction market business to all 50 states in the U.S. through a partnership with the CFTC-regulated prediction market platform Kalshi. Previously, this business was only in a limited pilot phase, and it is now fully rolled out, allowing users to trade on the outcomes of real-world events in politics, sports, entertainment, culture, and economic indicators.

Coinbase users can manage their cryptocurrency, stock, and cash balances within the same interface, with a low entry threshold for prediction market contracts starting at $1 (supporting USD or USDC). This full launch coincides with a historic high in prediction market trading volume, with platforms like Polymarket and Kalshi reaching transaction volumes in the tens of billions of dollars.

Coinbase aims to further transform into a "full-service exchange" covering stocks, derivatives, stablecoins, and tokenized assets by incorporating prediction markets into its product line. Previously, Coinbase also acquired The Clearing Company, founded by the former growth lead of Polymarket, to accelerate the scaling of this business.