Coinbase Expands Beyond Crypto With Acquisition of Prediction Market Startup
Coinbase, the major U.S. cryptocurrency exchange, announced on December 22 its agreement to acquire a startup specializing in regulated prediction markets. This strategic move underscores Coinbase's aggressive expansion beyond traditional crypto trading.
The acquisition targets The Clearing Company, a firm that previously raised seed funding and focuses on compliant infrastructure for prediction markets. Upon regulatory approval, their team will integrate with Coinbase to develop prediction market products.
Prediction markets represent a growing frontier in decentralized finance, offering price signals based on collective expectations about real-world events like elections or economic data. Coinbase's MOVE aligns with its broader vision to support diverse asset classes beyond cryptocurrencies.
