Coinbase Tests Kalshi-Powered Prediction Market and Hints at Stock Trading Integration
Screenshots shared by Jane Manchun Wong reveal that Coinbase is testing a new prediction market feature powered by Kalshi, as well as potential stock and ETF trading within its app. Though Coinbase did not deny these leaks, it signaled a forthcoming livestream on December 17 at 2 PM PT on X, promising exciting new product announcements and a "new era" for the platform.
Kalshi, which ranks as the second-largest prediction market by trading volume according to Dune, would provide the backend for this integration. Polymarket leads in volume with around $34.39 billion, while Kalshi has approximately $17 billion in total volume. Leaked market examples include controversial topics such as "Will Trump release any of the Epstein files?" However, public access to this feature was reportedly pulled after Wong published the images.
This development follows Kalshi's selection of Coinbase Custody earlier in November 2025 to safeguard its USDC stablecoins, indicating a closer partnership between the two entities. The potential integration of prediction markets and stock trading aligns with broader trends in tokenized stock offerings. For context, Robinhood launched tokenized stocks in June, and other exchanges like Kraken provide xStocks via Solana and BNB Chain.
Overall, Coinbase’s move combines prediction market functionality with a potential expansion into tokenized stock and ETF trading, aiming to innovate amid growing market volumes and user interest.
