Coinbase, the cryptocurrency exchange, has reached an agreement to acquire The Clearing Company, a startup specializing in prediction markets. Although the acquisition will be carried out using a combination of cash and stock, the exact value of the deal has not been disclosed. The startup’s team of around ten people will continue operating as part of Coinbase.
This acquisition is part of Coinbase’s strategy to strengthen its position in the prediction markets sector. In December of this year, the company announced the launch of its own prediction market in partnership with the Kalshi platform. The purchase of The Clearing Company is expected to accelerate the growth of this new direction and help improve Coinbase’s blockchain-based prediction platform. It is also worth noting that the startup’s founder, Tony Jemayel, previously worked at leading companies in this field, including Polymarket and Kalshi.
Prediction markets allow users to make forecasts on the outcomes of elections, business deals, or natural events and earn profits from those predictions. These platforms gained significant popularity in 2024 amid the U.S. presidential elections. Currently, one of the biggest competitors in this space, Polymarket, has seen strong success, increasing interest from other major cryptocurrency platforms in the sector.
