Coinbase Taps ION for Prediction Market Clearing
Coinbase has selected ION's XTP platform to handle clearing and settlement for Kalshi prediction market products.
The partnership adds core post-trade infrastructure to Coinbase's expanding event-contract business, which includes sports, elections, and economic data. The platform automates contract processing, reducing operational work as volumes scale.
Coinbase began working with ION in December 2025 to help Kalshi list event contracts. ION's XTP for Event Contracts has already supported periods of heavy activity, including Kalshi's first million trades over Super Bowl weekend.
Toni Gemayel, Coinbase head of prediction markets, said the partnership gives the company 'the operational backbone needed as the firm's event-contract business grows.'