A group of market-leading cryptocurrency companies are forming a Coalition for Prediction Markets (CPM). This is a new national organization dedicated to preserving safe, transparent and federally supervised access to this type of market.
According to the official information published by the organization, the coalition is powered by companies such as Coinbase, Robinhood, Underdog, in addition to Kalshi and Crypto.com. Its main work will focus on strengthen the federal framework and regulations governing prediction markets.
“The United States is the biggest frontier for prediction markets, and the momentum we are seeing makes a unified industry voice not only important, but necessary,” said Matt David, Coalition Executive Board Member and Head of Corporate Affairs at Crypto.com.
With this in mind, it is expected that new developments will emerge in the coming days. related to this type of platformswhich are spaces where people can trade contracts based on the results of future events.
Waiting for the Coinbase announcement
The first of the expected announcements would be headed by Coinbase exchange and the regulated exchange and prediction market Kalshi.
As reported by media such as CNBC and Bloomberg, these two companies will formally announce a new prediction market. It would be part of the Coalition’s plans.
The information that still It is not confirmed by the companyalthough it has been circulating for approximately a month.
In that sense, it is likely that the announcement will be made next December 17coinciding with the presentation of the “Coinbase System Update”. A live event where the platform presents its innovations.
Coinbase’s moves align with CEO Brian Armstrong’s long-stated vision of building an “everything exchange”: a single platform for trading all types of assets, including cryptocurrency tokens, tokenized stocks, and event contracts.
As CriptoNoticias reported, earlier this month the exchange presented a new platform designed to modify the way new digital assets are distributed to users. The system seeks to prioritize “real supporters” of projects over speculators, known as “snipers, scalpers or whales.”