Leaked screenshots shared Tuesday by tech researcher Jane Manchun Wong indicate Coinbase is developing a prediction markets platform built on Kalshi’s regulated infrastructure, according to images circulated on social media.
Summary
- Coinbase Business launched in Singapore, offering instant USDC payments, global transactions, and regulatory-compliant financial services for local startups.
- Gemini and Crypto.com also advancing prediction market offerings, with Gemini seeking CFTC approval and Crypto.com partnering with Trump Media.
The screenshots show Coinbase developing a dedicated website for the service, featuring Coinbase-branded prediction market pages, an FAQ section, and onboarding guides, according to the leaked images.
One screenshot indicates the product would be offered by Coinbase Financial Markets, the exchange’s derivatives arm, “through Kalshi,” suggesting the service will rely on Kalshi’s regulatory framework. Additional images show a prediction market interface that appears to allow users to participate using USDC or U.S. dollars, with categories including economics, sports, science, politics, and technology.
Coinbase and prediction markets
Coinbase has previously stated interest in prediction markets as part of its plan to evolve into an “everything exchange.” On Nov. 13, Coinbase and Kalshi announced a partnership allowing the exchange to serve as custodian for Kalshi’s USDC-based event contracts.
Prediction markets have experienced significant growth in 2024 and 2025, with platforms including Kalshi and Polymarket reporting record trading volumes as users engaged in event-based trading ahead of major political, economic, and cultural events.
Crypto.com and prediction markets
Crypto.com recently launched a prediction market product in partnership with Trump Media, while Gemini announced plans to build a similar platform as part of an upcoming application. Gemini has filed to become a designated contract market with the Commodity Futures Trading Commission as part of its effort to offer regulated event contracts.
Separately, Coinbase launched Coinbase Business in Singapore, marking the crypto exchange’s first international rollout of its business-focused operating platform, the company announced. The platform provides local startups and small businesses access to instant USDC payments, global transfers, automated accounting integrations, and digital asset management tools.
The Singapore launch builds on Coinbase’s collaboration with the Monetary Authority of Singapore through the BLOOM Initiative, which focuses on cross-border digital payments. The platform offers USDC-based global payouts, international transactions, and an API for automated payroll and vendor management, supported by real-time SGD banking infrastructure via Standard Chartered.
Coinbase stated the launch supports Singapore’s innovation economy by offering a financial platform that integrates fiat and cryptocurrency under regulatory standards.
