Coinbase Teases ‘New Era’ Amid Prediction Market, Stock Trading Leaks

Coinbase has teased a “new era” for the crypto exchange, with “exciting product announcements” coming on December 17. A company representative pointed Decrypt towards the tease in response to questions about leaks that appear to show the platform testing prediction market and stock trading features.

Jane Manchun Wong, a self-defined “hacker turned builder and consultant,” posted screenshots on Wednesday that appeared to show a Coinbase prediction market.

It appears that Coinbase’s prediction market platform will be offered through an integration with Kalshi—the second-largest prediction market by trading volume, per Dune, behind Polymarket. Listed markets shown in the screenshots include, “Will Trump release any of the Epstein files?”

Wong also posted screenshots that suggest that Coinbase is exploring the possibility of offering common stock and ETF trading through its app. No specific stocks were shown. She added that public access to the prediction market integration appeared to have been pulled following her social media share.

Wong told Decrypt that she obtained these images by reverse-engineering the publicly available app code on Coinbase’s website. Wong has made a name for herself by uncovering new features and functionality from tech platforms and popular apps, such as breaking the news on Facebook testing a dating feature and discovering Airbnb’s flight integration feature.

Coinbase did not deny the leaks to Decrypt, but rather said, “Tune in to the livestream on Dec 17th to find out what new products we are shipping.” The spokesperson also pointed Decrypt to a Tuesday X post teasing a “new era” for Coinbase to be ushered in via a December 17 livestream with “exciting product announcements.”

Wong told Decrypt that she’s “looking forward [to] when the whole picture is unveiled on December 17.”

Earlier this month, Kalshi chose Coinbase Custody to safeguard its USDC stablecoins. A full integration of the Kalshi prediction market would be a sizable step forward in this relationship.

Prediction markets allow users to predict the outcomes of real-world events by putting money on the line. And they’re all the rage right now, racking up billions of dollars in trading volume as more and more platforms enter the space. Kalshi has generated $17 billion in total volume to date, according to Dune, while Polymarket has processed $34.39 billion in volume.

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As for stock trading in crypto, this has been a feature that crypto has flirted with for years. In June, trading app Robinhood launched tokenized stocks, including offering tokenized equity for a handful of private companies. Kraken and other platforms also offer tokenized stocks, called xStocks, via networks like Solana and BNB Chain.