Publicly traded American crypto exchange Coinbase continued its expansion beyond crypto trading on Wednesday, officially rolling out its prediction market product to American users in all 50 states.
The markets allow individuals to test their knowledge across sports, culture, politics, and crypto, making use of the already established market presence and contracts offered by leading prediction market platform, Kalshi.
Out: Odds set by the house.
In: Price set by the crowd.
Now there's a new way to trade your takes.
Prediction markets are live in all 50 states on Coinbase.
While their popularity has exploded, scrutiny surrounding prediction markets has also increased of late—particularly as it relates to sports contracts, which are likened to sports gambling.
Shares of COIN are down around 0.32% amid the news, and have fallen nearly 45% in the last six months to change hands at $210.26.
A representative for the firm did not immediately respond to Decrypt’s request for comment.
