Coinbase Users Can Now Bet on NFL Games Using Prediction Markets
Users of Coinbase can now place bets on the outcome of sports events, including the New York Jets versus Detroit. The prediction market allows users to buy contracts for a specified amount, with payouts based on the event's occurrence.
The contract in question has an expiry date of September 29, 2026, and currently has no volume detected. The payout is set at $196 per contract.
The rules prohibit trading by current players, coaches, and staff of the league, association, or organization governing the event, as well as paid employees of the league and its participants.
According to Coinbase, users can trade regulated 'Yes/No' contracts on outcomes in various categories, including crypto, economics, politics, sports, entertainment, technology, science, and more. Each market has rules explaining how the outcome is decided, with settlement based solely on a stated 'source of truth.'