Published on: December 12, 2025, at 11:56 AM.
Updated on: December 12, 2025, at 11:56 AM.
- Two companies already have an established collaboration.
- Coinbase is anticipated to unveil its prediction market strategies next week.
- The partnership may mirror the collaboration between Kalshi and Robinhood.
As Coinbase Global (NASDAQ: COIN) gears up to launch its prediction markets platform, an imminent partnership with Kalshi seems highly probable.
Jane Wong, a blogger and consultant from Silicon Valley, disclosed that Coinbase is developing an event contracts platform. She shared a slide from an unreleased investor presentation that included a disclaimer about its relationship with Kalshi.
“Coinbase operates under the regulatory oversight of the US Commodities Futures Trading Commission (CFTC). Prediction Markets will be facilitated by Coinbase Financial Markets via KalshiEX LLC,” as stated in the cryptocurrency platform’s presentation.
Recently, Coinbase and Kalshi revealed their partnership, wherein Coinbase manages the custody of the stablecoin USDC for the prediction markets operator. Reports emerged that Coinbase could unveil its plans for event contracts as early as next week.
Coinbase’s Partnership Aligns with Kalshi’s Crypto Ambitions
While not as deeply integrated into the crypto realm as its competitor Polymarket, Kalshi has expressed its intent to become the preferred prediction market platform for the digital currency sector.
“In six months, Kalshi aims to be featured in every significant crypto app, or I will consider it a failure,” stated Kalshi’s Head of Crypto John Wang in a recent post on X.
This vision and the potential partnership with Coinbase come at a time when the prediction market space is increasingly converging with the cryptocurrency sector. Established players like Crypto.com and Polymarket are already prominent in this market, while Robinhood Markets (NASDAQ: HOOD), which enables crypto trading, has a long-standing collaboration with Kalshi that accounts for approximately 25% to 35% of that exchange’s trading volume.
Furthermore, enhancing the intersection of crypto and prediction markets, Gemini Space Station’s (NASDAQ: GEMI) Gemini Titan division recently received approval from the CFTC to provide yes/no event contracts to clients.
Significance of the Coinbase-Kalshi Relationship for Kalshi
If the partnership between Coinbase and Kalshi materializes, it holds vital significance for the prediction market operator on various fronts, especially considering Coinbase’s impressive 105 million global accounts and 10.8 million monthly active users.
This collaboration could also mitigate the impact of potential business losses stemming from Robinhood. Last month, Robinhood announced it would partner with market maker Susquehanna International Group to establish its own prediction markets platform.
While Robinhood has indicated it will maintain its cooperation with Kalshi, the duration of this relationship remains uncertain, given that Robinhood will now be a direct competitor. Initially, Kalshi supplied Robinhood with event contracts, leveraging the broker’s customers as liquidity providers and volume boosters.
The economic benefits of that collaboration were shared equally between the two companies, and while it remains unclear whether this agreement will end, Kalshi’s alliance with Coinbase may help mitigate some of Kalshi’s risks associated with Robinhood.