Coinbase Users Bet Big on Varillas vs Seyboth Wild Tennis Match
A prediction market on Coinbase allowed users to bet on the outcome of a tennis match between Sebastian Korda and Jannik Sinner, but one particular contract drew significant interest. The Varillas vs Seyboth Wild contract had an expiry date of September 11, 2026, and a total traded value of $4.1M.
According to Coinbase, this market will close and expire when an outcome occurs, or by the specified date if no result is reached. Trading prohibitions apply to current and former players, coaches, staff, owners, and employees, as well as those with material non-public information on the underlying event.
The contract price reflected a 65% chance of the event happening, which meant that buying 'Yes' would bet on the outcome occurring. If successful, users could earn $1 per contract minus their original payment and fees.