Coinbase rolls out Kalshi-powered prediction markets inside its US app

Prediction markets are no longer just a niche corner of the internet where traders argue over probabilities. They are starting to look like a standard trading product, and Coinbase wants them sitting next to spot crypto, stocks, and derivatives.

In a product update published in December, Coinbase said it had begun rolling out access to prediction markets in the United States, with all market flow coming from Kalshi at launch. Users will be able to trade event contracts tied to real-world outcomes such as elections, championship games, collectibles, and economic indicators, and keep those positions in the same portfolio view as their other holdings. 

The contracts themselves are designed to feel simple. Each one settles at $1 if the outcome happens and $0 if it does not. Live prices move with trading and can be read as implied odds, so a $0.65 contract suggests the crowd is pricing a 65% chance. Traders can take either side by buying “Yes” or “No,” and they do not have to wait for final settlement because positions can be sold as the odds move.

Coinbase says users can start with as little as $1 funded in USD or USDC. That detail matters because it pushes prediction markets closer to the casual “trade what you follow” audience, not just the professional crowd that already lives in options and futures.

The Kalshi partnership also lets Coinbase lean on a regulated venue for event-based trading. Kalshi operates under US oversight and has been building the infrastructure for contracts tied to macro data and other outcomes, while Coinbase provides the distribution and the wallet-level UX. Coinbase has also previously said Kalshi chose Coinbase Custody to safeguard USDC used for event-based contracts.

For now, Coinbase is keeping the message measured. The rollout is staged, and the company says it plans to add contracts from additional prediction market platforms over time. Still, the direction is clear: Coinbase is building an everything exchange, and event contracts are now part of the menu.