Coinbase Prediction Markets Go Live Nationwide Following $34.5B Kalshi Success

Coinbase expanded its prediction markets nationwide on January 27, partnering with Kalshi to enable trading on real-world events, joining the most important trend in the crypto industry today.

Users from the United States can now wager on political outcomes, sports results, entertainment events, and macroeconomic indicators alongside their crypto and equity positions. Coinbase made its official announcement via X after first publicly stating its intentions in November 2025.

This nationwide push lets Coinbase capture domestic demand that offshore platforms like Polymarket cannot legally serve, following massive interest throughout 2024, when betting volumes across the three largest prediction markets soared by 565.4% in the third quarter, reaching $3.1 billion during the US presidential election cycle.

According to data from Dune, Kalshi has reached a cumulative notional volume of $34.5 billion as of January 27, 2026.

Kalshi has reached a cumulative notional volume of $34.5B | Source: Dune

Market Timing and Integration Into Their Ecosystem

Traders can access event contracts using either USD or USDC stablecoin directly within Coinbase’s interface, eliminating the need for separate accounts across multiple services. CEO Brian Armstrong has repeatedly stated his goal to build an “everything exchange” that extends beyond digital assets into traditional financial products.

Coinbase first unveiled these markets in December 2025 at its System Update conference, though availability was very limited to select regions.

This phased rollout gave the company time to stress-test its infrastructure before going nationwide. In late December, Coinbase acquired The Clearing Company to accelerate development of compliant technology for event-based trading.

Fighting For a Part of The Market Share

Coinbase now competes directly with established operators and traditional brokerages entering the space.

Gemini secured regulatory approval for its Titan platform in late 2025, while Robinhood became part of the LedgerX takeover with this objective. Using its existing user base and brand recognition, Coinbase aims to grab market share before competitors solidify their positions in what analysts at brokerage Benchmark describe as a “high-engagement, high-frequency product” that pulls users beyond cryptocurrency.

The launch signals that prediction markets have evolved from a crypto niche into a mainstream trading product that exchanges can no longer ignore, and most are moving in that direction.

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