Coinbase Launches Prediction Markets, Wang vs Prozorova First Up

Coinbase's prediction markets are live and ready for action. The platform has introduced a new way to trade on future events, allowing users to bet on whether an event will occur or not.

The first market available is the Wang vs Prozorova match-up, with betting open until October 9th at 3:00 GMT+0. The current price of the 'yes' contract is $169, indicating a 14% chance that Wang will win according to Coinbase's prediction markets.

Users can buy contracts for either the 'yes' or 'no' outcome, with each contract paying out $1 if the event occurs and $0 if it does not. The platform charges fees on trades, which vary depending on the market.