Coinbase Expands Into Prediction Markets
FDA Approves First Obesity Pill and Larry Ellison Guarantees $40B
Coinbase Expands Into Prediction Markets
Coinbase has agreed to acquire The Clearing Company as part of its push into prediction markets and its broader ambition to become an “Everything Exchange.” Financial terms were not disclosed, and the deal is expected to close in January.
The San Francisco–based startup, led by Toni Gemayel, brings a team with deep expertise in event-based trading systems. The group includes veterans from Polymarket and Kalshi, as well as former compliance leadership familiar with U.S. regulatory requirements. Brian Armstrong has framed the move as part of Coinbase’s effort to expand beyond spot crypto trading.
Prediction markets are gaining momentum, with weekly notional volumes surpassing $4 billion. Coinbase recently launched real-world event trading in partnership with Kalshi, covering elections, economic data, sports, and culture. The acquisition strengthens Coinbase’s competitive position as rivals like Robinhood, Kraken, and Gemini broaden their own offerings.
The Clearing Company raised $15 million in seed funding led by Union Square Ventures and has applied for a clearinghouse license with the Commodity Futures Trading Commission.
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