Coinbase lets its US customers trade prediction markets inside the same app they use for crypto. The contracts are Kalshi's: Coinbase acts as the broker, routing orders to Kalshi's CFTC-regulated exchange, and customers can pay with dollars or the USDC stablecoin. After a limited pilot announced in December 2025, Coinbase opened prediction markets to customers nationwide in late January 2026.
For someone who already has a Coinbase account, it is the shortest path to trading on sports, politics, economics and crypto outcomes. It is not always the cheapest. This guide explains how Coinbase prediction markets work, what they cost, where they are available and how they compare with trading on Kalshi directly.
| Feature | Coinbase prediction markets |
|---|---|
| Exchange behind the contracts | Kalshi |
| Broker | Coinbase Financial Markets, a CFTC-registered futures commission merchant |
| Funding | US dollars or USDC in your Coinbase account |
| Contract prices | 1 cent to 99 cents; each pays $1 if right |
| Categories | Sports, politics, economics, culture and crypto |
| Fees | Kalshi's exchange fee plus a Coinbase fee, shown before you confirm |
| Availability | US customers; sports contracts can be restricted in some states |
How Coinbase Prediction Markets Work
When you buy a contract on Coinbase, Coinbase Financial Markets, its futures broker and a member of the National Futures Association, sends the order to Kalshi. The order book, the prices and the settlement are Kalshi's. You see the same markets you would see on Kalshi, with Coinbase handling your account, your funds and the reporting.
Each contract pays $1 if its outcome happens and nothing if it doesn't, and the price is the market's estimate of the probability. You can hold a contract until it settles or sell it earlier at the current price. Our guide to how prediction markets work covers the basics, and prediction market odds explained shows how to read prices.
Funding With USD or USDC
Coinbase customers can trade with dollars or USDC already in their account, which makes it easy to move between crypto and event contracts. Positions in prediction markets are held through the futures broker rather than in your crypto wallet, so they show up separately from your coins.
What It Costs
Two layers of fees apply. Kalshi charges its exchange fee, which is highest for contracts priced near 50 cents and small near 1 or 99 cents; our Kalshi fees guide explains the formula. Coinbase adds its own brokerage fee on top. Coinbase does not publish a simple per-contract schedule; the total is shown in the order preview before you confirm.
Always check that preview. On cheap contracts, even a small fee can be a large share of the price, and the same trade placed directly on Kalshi may cost less. Compare platforms before committing large sums; our Polymarket vs Kalshi comparison covers the main exchanges.
Where It Is Available
Coinbase offers prediction markets to its US customers across the country, but sports contracts depend on state law in a way other contracts don't. After 2026 court rulings, Nevada, Ohio and Tennessee can enforce their gambling laws against sports event contracts, and Michigan has a court order against them. In October 2026, Ohio's casino regulator sent cease-and-desist letters to ten platforms and brokers offering sports contracts in the state, including Coinbase.
Markets on the economy, politics and crypto are not part of those disputes. Our state-by-state guide shows where sports contracts are restricted.
Coinbase vs Kalshi vs Robinhood
| Coinbase | Kalshi direct | Robinhood | |
|---|---|---|---|
| Exchange | Kalshi | Kalshi | Its own exchange venture and other venues |
| Fees | Kalshi fee plus Coinbase fee | Kalshi fee only | Flat fee per contract |
| Funding | USD or USDC | Bank, card, crypto and more | Robinhood cash |
| Best for | Existing Coinbase users, crypto traders | Lowest cost, widest market list | Robinhood stock traders |
Choose Coinbase if you already keep money there and value having everything in one app. Choose Kalshi directly if you trade often or in size, since you avoid the broker's markup and get Kalshi's full market list and tools, covered in our Kalshi review. Choose Robinhood if you already invest there; see our Robinhood review.
Taxes and Records
Prediction market gains are taxable. Brokers and exchanges do not all issue tax forms that report event contract gains, so keep your own records of every trade. Our prediction market tax guide explains what to report.
Frequently Asked Questions
Does Coinbase have prediction markets?
Yes. Coinbase offers prediction markets to US customers through a partnership with Kalshi. Coinbase is the broker and Kalshi is the exchange.
Is Coinbase prediction markets the same as Kalshi?
The markets and prices are Kalshi's. Coinbase handles your account and adds its own fee, so the cost of the same trade can differ.
Can I use USDC to trade prediction markets on Coinbase?
Yes. You can fund trades with US dollars or USDC held in your Coinbase account.
What are the fees for Coinbase prediction markets?
Kalshi's exchange fee plus a Coinbase brokerage fee. Coinbase shows the total in the order preview before you confirm a trade.
Is Coinbase prediction markets available in my state?
Coinbase offers prediction markets to US customers nationwide, but sports contracts can be restricted in states with court orders against them, including Nevada, Ohio and Tennessee.
Is it legal to trade prediction markets on Coinbase?
The contracts are listed on Kalshi, a CFTC-regulated exchange, and sold through a CFTC-registered broker. Some states contest sports contracts in court; other categories are not part of those disputes.
