Coinbase App Code Reveals Testing of Prediction Markets, Tokenized Stocks

Coinbase appears to be testing prediction market and tokenized stock trading features within its mobile app, according to screenshots obtained through reverse-engineering of publicly available code by independent researcher Jane Manchun Wong.

The screens show tabs labeled "Stocks" and "Predictions" along with related disclosures, suggesting the exchange is moving closer to launching features it first outlined as part of its "everything exchange" strategy announced in July.

Wong told The Block she surfaced the interfaces by analyzing code from Coinbase's publicly available mobile app. One screenshot includes disclosure language stating "Prediction markets are offered by Coinbase Financial Markets through KalshiEX LLC," indicating a potential integration with Kalshi, currently the only federally regulated prediction market operator in the United States.

When asked about the findings, a Coinbase spokesperson declined to confirm or deny the features, saying only: "Tune in to our showcase livestream on December 17th," where the company has promised "exciting product announcements," "key business updates," and additional reveals.

Coinbase first previewed plans to add tokenized stocks, prediction markets, and early-stage token sales for U.S. customers during a July interview with CNBC. Max Branzburg, the company's vice president of product, said at the time that Coinbase aimed to bring "all assets onchain" within a unified interface.

The prediction market space has seen intensifying competition in recent months. Polymarket, the largest prediction market platform globally by volume, quietly relaunched a U.S. beta version earlier this month after acquiring licensed derivatives venue QCX in July. The platform has added partnerships with PrizePicks and Yahoo Finance as it prepares for broader U.S. expansion.