Crypto Giant Coinbase Expands into Stocks and Event Betting

Coinbase, a major player in the crypto world, is now stepping into new areas. They are adding stock trading and event contracts to their platform. This move is part of a bigger trend where investment platforms are trying to offer more services to keep customers trading with them. Event contracts let people bet on real-world events, like sports or politics. But this area is getting some regulatory attention. Some state regulators think these contracts are like gambling and could lead to risky behavior. Coinbase argues that different rules in different states can confuse customers.Coinbase isn't the first to offer event contracts. Competitors like Robinhood and Interactive Brokers are already in this space. But Coinbase believes they can offer the most variety. They also think their existing customers will bring all their assets to one place. To make this expansion happen, Coinbase has teamed up with Kalshi. They might partner with other platforms in the future. Analysts predict that prediction markets could grow significantly, reaching nearly $10 billion in revenue by 2030. On top of event contracts, Coinbase plans to launch tokenized stocks soon. This will allow users to trade stocks 24/7. The company is clearly aiming to become a one-stop shop for all kinds of trading.