Overview
- Leaked screenshots from researcher Jane Manchun Wong show a Coinbase-branded site offered by Coinbase Financial Markets through Kalshi, with markets spanning economics, sports, science, politics, and technology.
- The interface in the leaks indicates support for U.S. dollars and USDC, and Coinbase has teased a December 17 livestream for product announcements without denying the prediction-market tests.
- Coinbase already holds custody of Kalshi’s USDC reserves under a partnership announced on November 13, tying institutional rails to event contracts.
- TechCrunch reports Kalshi raised about $1 billion at an ~$11 billion valuation led by Sequoia and CapitalG, weeks after a $300 million round, as volumes reached roughly $4.4 billion in October and about $50 billion annualized.
- Kalshi retains federal clearance to operate in the U.S. but faces state-level legal challenges, while rivals including Polymarket, Gemini, and Crypto.com are accelerating competing prediction-market offerings.