Coinbase Launches Prediction Market Feature for Event Bets
A new type of prediction market has begun on Coinbase, allowing users to bet on various events. The platform offers contracts on future events, where each pays $1 if the event happens and $0 if it does not. The price reflects the market's odds, with $0.65 meaning a 65% chance.
The first market available is 'Bromley vs Huddersfield: BTTS - Coinbase', which expires on September 21, 2026. Traders can buy in and earn payouts based on the outcome of the event. However, there are restrictions for certain individuals, including current players, coaches, and staff of the league or association governing the event.
Payouts occur after settlement, but may be delayed due to U.S. bank holidays, weekends, or outside banking hours. Fees apply when trading, covering costs for operating the market and the broker fee.