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Coinbase Doubles Down on Prediction Markets with Deal for The Clearing Company
Coinbase aims to broaden its investment offerings with The Clearing Company acquisition as prediction market volumes exceed $4 billion weekly, data shows.
- Last week, Coinbase agreed to acquire San Francisco-based The Clearing Company to expand into prediction markets and position itself as an 'Everything Exchange', with financial terms undisclosed.
- After announcing platform expansion, Coinbase said it plans to include prediction markets, with The Clearing Company led by Toni Gemayel, who raised 15 million in August, in its growth strategy.
- The Clearing Company's on-chain prediction markets span digital assets, politics, sports and culture, and in August it raised $15 million in a seed round led by Union Square Ventures with Coinbase Ventures participating, including Polymarket veterans and a former Kalshi chief compliance officer.
- The deal will bring in a team with specialized experience building event-based trading systems as weekly notional volume now tops 4,000,000,000 and Coinbase already lets users trade event outcomes with Kalshi.
- Rivals including Robinhood, Kraken and Gemini have launched equity and prediction markets, while The Clearing Company applied last month for a CFTC clearinghouse license, raising regulatory scrutiny.
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Coinbase Acquires The Clearing Company, Expands Prediction Markets Strategy - Invest In Crypto News
Coinbase has agreed to acquire The Clearing Company, an on-chain prediction markets startup that spans digital assets, politics, sports and culture, as it expands its push to become an “everything exchange” offering a broad range of investment products. In an announcement shared with Cointelegraph, Coinbase said it has entered into a definitive agreement to acquire The Clearing Company, with the transaction expected to close in January. Financia…
Coverage Details
Total News Sources28
Leaning Left2Leaning Right0Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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