Coinbase said it is acquiring The Clearing Company, a startup focused on prediction markets, after recently rolling out prediction markets access to Coinbase users.

The transaction is subject to customary closing conditions and is expected to close in January.

The company said users will be able to trade on outcomes of real-world events within the same interface where they trade bitcoin, derivatives, and equities.

Acquisition details

The Clearing Co. team is led by founder Toni Gemayel.

Coinbase also noted that listed futures and swaps are offered via Coinbase Financial Markets, an NFA member firm registered with the CFTC.

Why Coinbase says it matters

Coinbase said prediction markets allow people to trade on real-world events, including elections, the economy, sports, and culture.

The company said it wants to let customers participate in prediction markets alongside their cash, bitcoin, equities, and derivatives portfolios.

‘Everything Exchange’ push

Coinbase framed the acquisition as part of its plan to build an “Everything Exchange,” which it described as a unified place to trade every asset class.

The company said combining regulated market access with event-contract expertise will help it scale prediction markets trading on Coinbase.

Coinbase said in its blog post:

“The Everything Exchange will be the unified place where people can trade every asset class.”