Coinbase to unveil prediction markets and in-house tokenized stocks

Coinbase plans to introduce prediction markets and in-house tokenized stocks at a company showcase on Dec. 17, according to anonymous sources cited by Bloomberg. The products are slated to be unveiled during a livestream, and the person indicated the tokenized stocks will be built internally rather than through partners. 

Executives have discussed entering these lines of business as part of a push to offer access to a wider range of assets and keep pace with competitors. A company spokesperson declined to share specifics, adding: “Tune in to the livestream on Dec. 17 to find out what new products Coinbase is shipping.”

Interest in both areas has been rising. Trading in tokenized equities-digital representations of stocks recorded on blockchains-rose 32% in the past 30 days to $1.45 billion in monthly transfer volume, based on data from tracker rwa.xyz. Prediction markets, which let users wager on outcomes of events such as sports contests and elections, have drawn increasing attention from trading platforms.

Competitors have rolled out comparable features. Robinhood Markets added prediction market products from Kalshi Inc. earlier this year. Robinhood and Kraken offer tokenized U.S. stocks and exchange-traded funds in markets outside the United States. This week, Gemini received an approval that will allow it to introduce prediction markets, and Crypto.com has partnered with Trump Media & Technology Group to help launch prediction markets.

Screenshots hinting at prediction and tokenized stock features in Coinbase apps have circulated on X in recent weeks, though the company has not detailed functionality or availability. The Dec. 17 showcase would be the first formal presentation of the plans.

As we covered previously, crypto prediction markets have seen rising activity and reported extreme information asymmetry between retail users and professional traders, creating arbitrage opportunities. Traders are moving beyond sports to bet on bitcoin and other crypto assets.