Coinbase Set to Compete with Polymarket and Kalshi by Launching Its Own Prediction Market

Coinbase's New Offerings: Coinbase Global Inc. is set to launch prediction markets and tokenized equities, developed in-house, with a livestream event scheduled for December 17, although specific details remain unconfirmed.

Market Competition: The move positions Coinbase among competitors like Kalshi and Polymarket in the prediction market space, as other platforms like Gemini and Crypto.com also expand their offerings to diversify revenue streams amid regulatory changes.

Stock Performance: Coinbase's stock (COIN) closed down 2.21% at $269, with attempts to stabilize above the $264 support level, but the overall trend remains bearish, with key resistance levels identified.

Technical Analysis: The stock is currently trading between Fibonacci levels, indicating indecision, and a sustained move above $275 could signal a shift in momentum, while a break above $292 is necessary to challenge the larger downtrend.