Crypto exchange Coinbase is reportedly building a prediction markets website, according to well-known technology researcher Jane Manchun Wong, who shared screenshots appearing to show the platform’s early interface and documentation. The move would mark Coinbase’s most direct expansion yet into one of the fastest-growing sectors of the crypto industry.

Wong — famous for uncovering unreleased features on platforms like Facebook, Instagram, TikTok, and X — posted on Tuesday that “Coinbase is working on a prediction market,” accompanied by multiple images that look like internal development pages.

🔍 Screenshots Suggest the Platform Will Be Powered by Kalshi

One screenshot explicitly states that the markets are “offered by Coinbase Financial Markets through Kalshi”, referencing Kalshi — the only federally regulated event-contracts exchange in the United States, overseen by the Commodity Futures Trading Commission (CFTC).

Other images show:

• A prediction-market interface branded with Coinbase’s logo

• A FAQ section explaining how the markets work

• A Coinbase-branded user guide

• Pages describing deposits, contracts, and payouts

The design resembles platforms like Kalshi and Polymarket, but with Coinbase's visual identity layered on top.

Source: Jane Manchun Wong

🧩 Coinbase Has Already Signaled Interest in Prediction Markets

Coinbase told CNBC in July that prediction markets would become part of its long-term plan to build what CEO Brian Armstrong calls:

“the Everything Exchange” — a platform where users can trade all forms of value.”

On Nov. 13, Coinbase partnered with Kalshi, agreeing to serve as custodian for Kalshi’s USDC-settled event contracts. The new screenshots appear to show a deeper integration, hinting at a potential Coinbase-branded version of Kalshi’s markets.

Neither Coinbase nor Kalshi immediately responded to requests for comment.

🕵️ Who Is Jane Manchun Wong — And Why Her Findings Matter

Jane Manchun Wong has built a reputation as the industry’s most reliable “feature detective,” known for reverse-engineering public source code and uncovering unreleased features long before launch.

Her track record includes early discoveries of:

• Facebook Dating

• Instagram Reels features

• X’s Communities and Notes

• Meta’s NFT integrations

Because she pulls data from publicly accessible source code, her findings are typically strong indicators of in-progress products.

Thus, industry watchers view her Coinbase screenshots as credible evidence that the exchange is actively developing a prediction markets platform.

💵 What the Screenshots Reveal: USDC and USD Support, Multiple Market Categories

Based on Wong’s screenshots, Coinbase appears ready to support:

Payment Options

• USDC

• U.S. Dollars

Market Categories

The platform lists several event types, including:

• Economics: inflation, interest rates, jobs data

• Sports: match results, championships

• Politics: elections, legislation, geopolitical outcomes

• Science: space launches, medical breakthroughs

• Technology: AI milestones, product releases

The site also suggests new markets will be added frequently, similar to Polymarket’s continuous event feed.

📈 Prediction Markets Are Exploding in Popularity

Prediction markets have become one of the breakout trends of 2024–2026, attracting enormous volumes as traders bet on:

• The U.S. presidential election

• Federal Reserve decisions

• AI developments

• Sports outcomes

• Crypto-related events

Platforms such as Kalshi and Polymarket have posted record growth this year, often surpassing traditional crypto DEX activity during major news cycles.

This surge has pushed major exchanges into the space:

Crypto.com

Launched a prediction market product integrated with Trump Media.

Gemini

Announced plans to build a prediction market as part of a “super app” and has already filed with the CFTC to become a Designated Contract Market (DCM).

Other exchanges

Have begun exploring either:

• Building native platforms

• Or partnering with established event-contract providers

Coinbase’s entry suggests competition will intensify sharply.

🧠 Why Prediction Markets Are So Attractive for Major Exchanges

Prediction markets offer several strategic advantages:

1. Higher Margin Opportunities

Event contracts typically generate higher transaction fees than spot crypto trading.

2. Massive User Demand

Traders are flocking to markets tied to elections, macroeconomics, AI milestones, and sports — topics that naturally attract attention.

3. Clearer Regulatory Path

Platforms like Kalshi operate under CFTC-approved frameworks, giving crypto exchanges a legal pathway to enter prediction markets without the regulatory uncertainty that surrounds many crypto derivatives.

4. Expansion Beyond Pure Crypto

Prediction markets let exchanges diversify into mainstream consumer products, similar to sports betting or financial forecasting tools.

🚀 Coinbase’s Endgame: Becoming a True “Everything Exchange”

If Coinbase fully launches its own prediction markets platform, it would sit alongside:

• Crypto spot trading

• Perpetual futures

• RWA (tokenized assets)

• Institutional custody

• Web3 wallets

• Stablecoin infrastructure

• And more initiatives in development

This aligns with Armstrong’s multi-year roadmap to build a platform where users can trade or bet on anything with a determinable outcome.

Prediction markets would significantly expand Coinbase’s product footprint and give it a major competitive edge in the U.S. — one of the world’s most restrictive markets for such products.

🧩 Conclusion: Coinbase May Be Entering a Multi-Billion-Dollar Sector — And Wong’s Findings Offer the First Concrete Evidence

Based on Wong’s screenshots and Coinbase’s recent corporate moves:

• Coinbase is actively developing a prediction markets website

• Kalshi appears to be the regulated backbone of the product

• Coinbase may soon offer event-driven markets directly on its platform

• The strategic timing aligns with surging global interest in prediction markets

• This could become one of the exchange’s most significant product expansions since derivatives trading

If confirmed, Coinbase would join a growing wave of major players seeking to dominate the next frontier of crypto-aligned financial products.

Prediction markets may soon shift from niche speculation to mainstream, regulated financial infrastructure — and Coinbase appears poised to be at the center of that transformation.