Covers fintech, crypto, and private company financials for The Information.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
Coinbase is expanding into prediction markets through a partnership with US-regulated Kalshi, targeting a mid-December product launch as part of its strategy to become an 'everything exchange' offering crypto, tokenized stocks, and prediction markets to deepen user financial integration.
Kalshi is the largest US-regulated prediction market operator ($5B valuation, backed by Andreessen Horowitz) partnering with Coinbase to launch prediction markets, benefiting from CFTC license while facing new competition from Polymarket's US entry.
Polymarket is the larger global prediction market operator ($8B valuation) that recently gained US regulatory approval by acquiring a licensed exchange and clearing house, setting up direct competition with Kalshi in the US market.