Coinbase to unveil prediction markets and tokenized equities next week: Bloomberg

Coinbase Global will announce next week that it is launching prediction markets and tokenized equities, Bloomberg reported Thursday.

Citing a source familiar with the matter, the outlet said Coinbase plans to publicly announce the two products at a Dec. 17 showcase. The tokenized equities product is reportedly launching in-house without any partners.

"Tune in to the livestream on Dec 17th to find out what new products Coinbase is shipping," a Coinbase spokesperson said, without directly confirming or denying the report.

The exchange had previously hinted at such product launches, and screenshots recently circulated on the social media platform X appeared to show the app displaying these new functionalities.

Coinbase's reported move aligns with the trend of major crypto players jumping into the emerging prediction market sector, which is currently under a duopoly of Kalshi and Polymarket. The combined volume of these two platforms has been growing at a rapid pace, posting $7.7 billion worth of monthly volume in November from around $1.3 billion in August.

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Earlier this week, crypto exchange Gemini announced that it received approval from the Commodity Futures Trading Commission to operate a Designated Contract Market, clearing the way for it to launch an event contracts platform. Another major exchange, Crypto.com, inked a partnership with sports apparel giant Fanatics to launch a fan-led prediction market platform earlier this month.

Coinbase stock fell 2.2% on Thursday to close at $269.02, according to The Block's COIN price page.