Coinbase's prediction markets are Kalshi's contracts with a Coinbase front end. They launched in December 2025, went live in all 50 states on January 28, 2026, and let you trade from $1 in dollars or USDC in the same screen as your crypto. It's the easiest way for a Coinbase user to take a position on an election or a game. It isn't a reason to open a Coinbase account if you don't have one, and it isn't cheaper than Kalshi itself.
How it works
Open the prediction markets section in the Coinbase app, pick a market, buy Yes or No. The order routes to Kalshi's exchange, matches against Kalshi's order book and settles under Kalshi's rules; Coinbase holds the position for you. Minimum trade is $1. You can fund with USD or USDC, which is the one thing here Kalshi direct doesn't do as neatly.
Markets
The categories announced at launch: politics, sports, entertainment, culture and economic indicators, drawn from Kalshi's catalogue. Expect the same depth as Kalshi on any given market, since it's the same book, but not necessarily every Kalshi market, as Coinbase curates what it shows. Coinbase said it would add contracts from other platforms "in the coming months"; as of October 2026 we haven't seen a second exchange named.
Fees
Coinbase hasn't published a prediction-markets fee schedule the way Kalshi, Polymarket and Novig have. The cost appears in the order ticket before you confirm. Assume Kalshi's exchange fee plus a Coinbase margin and compare on a real order; if you trade more than occasionally, the comparison will favour Kalshi direct, where you can also post free resting orders.
Availability
Nationwide since January 28, 2026 per Coinbase, with the standing caveat that sports contracts are Kalshi's and disappear wherever a court has ordered Kalshi to geofence (Nevada, Michigan, Washington at the time of writing). Politics and economics markets are unaffected.
Who it's for
Coinbase users with a USD or USDC balance who want to trade events without another account or KYC. For anyone else, Kalshi direct or Polymarket.
Launch and state coverage per The Block (Jan 28, 2026) and Coinbase's December 17, 2025 announcement.