Coinbase Explores Sports Betting with 'Pittsburgh vs Philadelphia' Contract
The prediction market platform Coinbase has been exploring new frontiers, including sports betting. A recent example is the 'Pittsburgh vs Philadelphia' contract, which allowed users to bet on the outcome of a hypothetical game between two teams.
The contract was set up as a yes/no proposition, with users able to buy contracts for $1 or less. The price reflected the market's odds, with a 65% chance of one team winning. If the event occurred, each correct contract would settle at $1, and incorrect ones at $0.
The contract expired on October 1, 2026, but it's unclear if any users placed bets or won payouts. Coinbase Financial Markets, the regulated derivatives entity behind the platform, requires users to complete onboarding and identity verification before trading prediction contracts.