Coinbase Partners with ION to Clear Event Contracts for Kalshi

ION, a global leader in trading and workflow automation software, has announced that Coinbase (COIN) has selected its XTP for Event Contracts platform to support event contract clearing for Kalshi, the world's largest prediction market.

The partnership allows Coinbase to process high-volume activity, including over one million trades during Super Bowl weekend. ION's XTP extension automates real-time creation, resolution, and settlement of event-based contracts, enabling seamless processing and onboarding of tens of thousands of accounts per day.

Toni Gemayel, Head of Prediction Markets at Coinbase, said: 'Partnering with ION provides the operational infrastructure needed to support our expanding event contracts business.'

The XTP for Event Contracts platform provides a unique opportunity for Futures Commission Merchants (FCMs) to run event contracts alongside existing ETD and cOTC business in a single solution.