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Wall Street JournalCoinbase Reportedly To Rival Polymarket, Kalshi With In-House Prediction Market
Coinbase Global Inc. (NASDAQ:COIN) is reportedly planning to unveil prediction markets and tokenized equities next week, while its stock continues to trade inside a broader downtrend.
Coinbase Plans Prediction Markets And Tokenized Equities Launch
Bloomberg on Friday cited a person familiar with the matter saying that Coinbase is developing the tokenized equities offering in-house without external partners.
A Coinbase spokesperson invited users to tune into a Dec. 17 livestream but did not confirm specific product details.
Screenshots circulating on X in recent days appeared to show early versions of the features inside the Coinbase app, adding to speculation ahead of the event.
This move places Coinbase alongside other major cryptocurrency platforms expanding into prediction markets.
Kalshi and Polymarket currently dominate the segment, with combined monthly volumes rising to about $7.7 billion in November from roughly $1.3 billion in August.
Competition Intensifies Across Crypto Trading Platforms
Rivals are moving quickly, as Gemini (NASDAQ:GEMI) recently received approval from the CFTC to operate a Designated Contract Market, clearing the path for its own event-based contracts platform.
Crypto.com also partnered with Fanatics earlier this month to launch a fan-driven prediction market tied to sports and entertainment outcomes.
The push highlights how exchanges are racing to diversify revenue streams beyond spot trading as fees compress and regulatory scrutiny reshapes the digital-asset landscape.
Coinbase Stock Struggles To Gain Traction Despite Product Momentum
COIN Stock Price Action (Source: TradingView)
COIN closed down 2.21% on Thursday at $269, though premarket trading showed a modest bounce of about 0.5%.
The stock is attempting to stabilize above the $264 support zone, which aligns with the 0.236 Fibonacci retracement and has held multiple times this week.
Despite the defense of support, the broader structure remains bearish.
COIN continues to trade below its main descending trendline, with repeated rejections near the 20- and 50-day EMAs.
Until price reclaims the $275 to $295 range, traders are likely to view upside moves as short-term relief rallies.
Key levels include support at $264 and $250, with resistance at $275.88 near the EMA cluster and a heavier breakout zone between $292 and $303.
Fibonacci targets above that range sit near $284, $301 and $318.
Momentum Indicators Show Market Still Hesitant
RSI is moving around 44, signaling neutral momentum with a slight bearish tilt as it remains below the 50 level.
COIN is also stuck between the 0.236 and 0.382 Fibonacci zones, a range that often reflects indecision while traders wait for a clear catalyst.
A sustained move above $275 would be the first sign that buyers are regaining control.
A break above $292 would be needed to challenge the larger downtrend and shift sentiment meaningfully.
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