Coinbase Prediction Markets Boom as Company Seeks Everything Exchange Status
Coinbase's prediction markets have been growing rapidly and reached an annualized revenue run rate of over $100 million in the second quarter of this year, more than double the previous quarter. According to Alesia Haas, Coinbase's chief financial officer, 'we are just getting started with prediction markets' but they have already shown significant growth potential.
Haas noted that customers can express their views on various topics such as weather, politics, and sports, including the upcoming American football season. She emphasized that there is a lot of momentum in prediction markets and Coinbase has the ability to grow this product further.
Coinbase's strategy is to become an 'everything exchange', where customers can trade any asset at any time. To achieve this goal, the company has diversified its offerings from spot crypto trading into derivatives, equities, and prediction markets. Haas highlighted that when Coinbase went public in 2021, Bitcoin spot trading accounted for over 50% of total revenue, but this has fallen to around 10%.
Coinbase also launched derivatives, which reached an all-time high in market share in the second quarter of this year. The company acquired Deribit, a crypto options exchange, in August 2025 and rolled out a new matching engine for derivatives. Additionally, Coinbase secured a no-action relief letter from the U.S. Commodity and Futures Trading Commission (CFTC), allowing U.S. customers to trade global perpetual futures.
Haas stated that 'the largest global market for crypto has been trading perpetual futures' and that Coinbase aims to harmonize liquidity and grow this product in the U.S.