Coinbase reportedly plans to enter the US prediction-markets sector on 17 December 2025, alongside issuing tokenised equities, according to the report. The company has previously pursued a custody arrangement involving Kalshi’s USDC holdings; the extent of any sports-event contracts remains unclear.
Coinbase’s reported entry could add a major platform to the US prediction-markets sector, with sports contracts still uncertain.
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JPMorgan ended its banking relationship with Polymarket last year over regulatory concerns but remains open to underwriting a potential IPO, reportedly. Polymarket has not announced an IPO or filed to go public, and said it maintains an active relationship with the bank across multiple entities and operational arrangements.
ProphetX and Players' Lounge have partnered to offer sports prediction markets through the Players' Lounge platform. The companies said eligible users in supported US jurisdictions can trade contracts on sports events after Know Your Customer verification, using ProphetX's CFTC-regulated exchange infrastructure.
Bernstein analysts say Kalshi and Polymarket could become acquisition targets as prediction-market companies seek greater control of distribution and infrastructure. The report says both exchanges have infrastructure but lag some rivals in distribution; it also identifies possible consolidation among sportsbook operators.
Coinbase announced on 16 June that it was adding multi-event combinations and interval-based crypto trades to its prediction market offering in the US. The company said customers could trade predictions over intervals from 15 minutes to annual periods, including on Bitcoin, Ether and Solana.
Cantor Fitzgerald analyst Ramsey El-Assal identified Coinbase and Robinhood as publicly traded companies positioned to benefit from prediction markets, according to a report. He said Robinhood describes prediction markets as its fastest-growing business and pointed to potential institutional uses including hedging and risk management.