Cryptocurrency exchange Coinbase is working on a website for a prediction market platform, according to a technology researcher who posted a screenshot that appears to be backed by Kalsi.
Jane Manchun Wong, a technology researcher and blogger known for spotting features in development on Big Tech sites, posted on X on Tuesday that Coinbase is “working on prediction markets” and shared multiple screenshots that appear to show the platform.
One of the screenshots states that prediction markets are powered by Coinbase Financial Markets, the derivatives division of Coinbase Global, through prediction market Kalshi.
Other images show a typical prediction market interface sprinkled with the Coinbase logo, as well as a FAQ section and a brand guide explaining the service.
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Coinbase told CNBC in July that it plans to offer prediction markets as part of an effort to create an “everything exchange.” Coinbase and Kalshi partnered on November 13th, with the exchange acting as the custodian for Kalshi’s USDC (USDC)-based event contracts.
Coinbase and Kalshi did not immediately respond to requests for comment.
Mr. Wong is known for scouring the public source code of websites for clues and discovering unreleased features for platforms such as Facebook, Instagram, and X.
In the screenshot shared by Wong, Coinbase appears to be set up to allow USDC or US dollar in its prediction market, and to include events related to economics, sports, science, politics, and technology. It also suggests that new markets will be added regularly.
Related: From South Park to Wall Street: Will prediction markets become mainstream?
Prediction markets have become one of the most popular cryptocurrency products this year, with trading volumes on platforms like Kalshi and Polymarket surging.
Many of Coinbase’s crypto exchange rivals are also looking to capitalize on this trend by partnering with existing platforms or developing their own services.
Crypto.com recently launched a prediction market platform and will be integrated with Trump Media.
Cryptocurrency exchange Gemini also plans to launch a prediction market platform as part of its efforts to develop a “super app,” and announced last week that it had applied to become a designated contract market with the Commodity Futures Trading Commission to provide a platform.
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