Coinbase appears to be preparing a major push into prediction markets, according to newly surfaced screenshots shared by well-known tech researcher Jane Manchun Wong.
The researcher, who has built a reputation for uncovering unreleased features across major tech platforms, posted findings on X on Tuesday suggesting the U.S. crypto exchange is quietly developing a dedicated prediction markets website.
Wong’s screenshots show what looks like an in-progress interface for a Coinbase-branded prediction market platform.
One of the pages displayed a disclosure stating that the service is “offered by Coinbase Financial Markets,” the derivatives-focused subsidiary of Coinbase Global. Notably, it also indicates that the functionality will be provided through Kalshi, the federally regulated event-contracts exchange.
If accurate, the integration would represent a significant step for Coinbase as it diversifies beyond spot trading, staking, and derivatives, potentially positioning the company at the intersection of blockchain, regulated event contracts, and retail-accessible forecasting tools.
It would also mark a notable alignment between two highly regulated entities: Coinbase Financial Markets, which has CFTC approval to operate as a futures commission merchant, and Kalshi, which operates the first CFTC-regulated platform offering real-money event contracts.
The screenshots shared by Wong include pages that resemble market listings and product descriptions, though none have been publicly acknowledged by Coinbase or Kalshi. Both companies have yet to comment on the discovery, and there is no announced launch timeline.
Prediction Markets and Regulatory Landscape
Prediction markets have gained broader traction in recent months amid rising public interest in election-based forecasts, economic indicators, and crypto-native events.
However, the sector also sits under heightened regulatory scrutiny in the U.S. Kalshi itself has been involved in ongoing disputes with the Commodity Futures Trading Commission over whether certain event markets, such as political contract offerings, qualify as permissible financial products.
Coinbase's Strategic Move
For Coinbase, a move into prediction markets could provide a new regulated product line at a time when the company continues expanding its U.S. derivatives presence and positioning itself as a compliant alternative in a globally shifting regulatory climate.
Still, until Coinbase formally confirms the product, the platform remains an unreleased experiment, one revealed, once again, through Wong’s signature early-stage feature sleuthing.