Coinbase appears to be developing functionalities for prediction markets and tokenized stock trading directly within its mobile application, according to independent analysis of its app code.
Independent researcher Jane Manchun Wong discovered test interfaces in the publicly available code. She shared screenshots on the social media platform X on Wednesday.
The findings include tabs labeled “Stocks” and “Predictions.” Regulatory disclosures within the app code explicitly state, “Prediction markets are offered by Coinbase Financial Markets through KalshiEX LLC.” This suggests a partnership with Kalshi, a U.S.-regulated prediction market operator.
Coinbase is working on Prediction Market pic.twitter.com/0T3HwdXmDy
— Jane Manchun Wong (@wongmjane) December 13, 2023
These features are currently in a testing phase. Wong also provided details of her findings to the publication The Block.
This development aligns with Coinbase’s stated strategy to become an “everything exchange.” The company announced this ambitious vision in July, aiming to bring “all assets onchain” to a unified interface.
This unified platform would allow users to trade cryptocurrencies, borrow, stake, spend, and generate yields without compromising security or simplicity. Coinbase recently launched a platform giving U.S. customers early access to tokens from emerging projects. It has also expanded its global presence, notably by introducing decentralized exchange trading in Brazil.
The company is expected to announce new products at a “System Update” event scheduled for December 17. A Coinbase spokesperson declined to confirm or deny the detected features, inviting observers to tune into the upcoming broadcast.
If implemented, these new offerings could significantly diversify options for Coinbase’s more than 100 million verified users. They could also attract traditional investors into the decentralized finance sector amid growing interest in cryptocurrencies and prediction markets.