Coinbase, one of the world’s leading cryptocurrency exchanges, has officially launched prediction markets for users in the United States.
This development comes as prediction markets gain momentum, with weekly notional trading volumes, trading activity and user participation reaching new records.
Coinbase launches prediction market in all 50 US states
Coinbase announced Tuesday that its prediction markets product is now available to customers in all 50 U.S. states through a partnership with Kalshi, a CFTC-regulated platform that was recently valued at $11 billion.
This feature is available in the latest version of the Coinbase app. Users can access the new Predictions tab to bet on the outcome of sports, politics, entertainment, economic events, and more.
Out: Odds set by the house.
In: Prices set by the crowd.
A new way to trade takes has arrived.
Coinbase has prediction markets in all 50 states.
Exchange real-world results in sports, politics, culture, and more. pic.twitter.com/CIjz9T9pjX
— Coinbase 🛡️ (@coinbase) January 28, 2026
Coinbase first revealed its plans to enter the prediction markets space in December. The initiative is part of the company’s vision to become an all-in-one financial platform, or “everything exchange.”
“Exchanged futures and swaps are offered by Coinbase Financial Markets (“CFM”), an NFA member company. Trading forecasting contracts involve significant risk and may result in the loss of your entire investment. The contract pays only if the specified event occurs. Only trade if you understand the product and believe it is appropriate for your financial situation and objectives. ” the exchange wrote.
Coinbase CEO Brian Armstrong also addressed the broader importance of prediction markets, explaining that they are a powerful tool for uncovering the truth.
“Prediction markets are the ultimate form of truth-seeking. If you have skin in the game, the output is much more reliable. Everything else is biased by someone’s agenda. I think we will look back on prediction markets as a breakthrough in how we discover the truth of the world,” he posted.
Record growth in prediction markets
Meanwhile, Coinbase’s entry into the space comes amid record growth in prediction markets. According to Dune’s latest data, weekly notional trading volume reached a record high of $6.18 billion.
Prediction market weekly notional volume. Source: Dune
Weekly active users increased to more than 357,000, and transactions reached an all-time high of 26 million. Sports emerged as the largest trading volume on both Karshi and Polymarket, followed by cryptocurrencies and political markets.
Nevertheless, high-conviction crypto trades in prediction markets have been declining since early January, according to BeInCrypto’s on-chain analysis. Data tracking wallets actively placing orders and providing liquidity on Polymarket shows two peaks in engagement in late December and early January, followed by a steady cooldown.
This backlash has extended to Bitcoin-focused markets, indicating a broader decline in risk appetite rather than a decline in casual participants.
