Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong said Thursday that the company has the ability to launch its own prediction market business, beyond serving as a retail distributor for platforms like Kalshi.
‘Keeping All Options Open’
During the company’s earnings call for the fourth quarter of 2025, Armstrong was asked whether the cryptocurrency giant has plans to build its own prediction market venue.
“It’s not an exclusive arrangement,” he said, referring to the partnership with Kalshi. “We also have the ability to launch our own markets. Nothing to announce on that at the moment. But, you know, we’re keeping all options open.”
Prediction Markets Explode During Super Bowl LX
Coinbase rolled out the prediction market service in all 50 states last month, just in time for Super Bowl LX.
Kalshi CEO Tarek Mansour revealed earlier this week that Super Bowl LX volume surged 2,700% year-over-year, with over $1 billion wagered on the game.
“So it’s early days, but so far the interest has been great. Super Bowl weekend was a really great moment where a lot of customers got to experience it for the first time,” Armstrong said.
Coinbase also aired a karaoke-style advertisement during Super Bowl LX. However, the idea failed to connect with viewers, trending as the lowest-rated advertisement the morning after the marquee sporting event.
Coinbase Reports Surge In Annual Revenue
Coinbase’s fourth-quarter revenue came in at $1.78 billion, below analyst forecasts, though EPS of $0.66 exceeded expectations. For the full fiscal year, Coinbase saw total revenue of $7.2 billion, up 9% year-over-year.
In other news, Coinbase encountered brief downtime, preventing users from trading. The Coinbase Support team later confirmed the issue was fixed.
Price Action: Coinbase shares rose 0.87% in after-hours trading after closing 7.90% lower at $141.09 during Thursday’s trading hours, according to Benzinga Pro.
COIN stock maintains a weaker price trend in the short, medium, and long term, with an average Value ranking, according to Benzinga's Edge Stock Rankings.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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