Key Takeaways
- Coinbase acquired The Clearing Company to scale its prediction markets offering.
- Customers will be able to trade on real-world event outcomes alongside crypto and equities on Coinbase.
Coinbase has inked a deal to acquire The Clearing Company as it expands its push into event-based trading. The deal is expected to close in January, pending customary conditions.
Founded earlier this year by Toni Gemayel, a former Head of Growth at Polymarket and Kalshi, The Clearing Company is a US-based startup focused on building an infrastructure for prediction markets that is compliant with US standards while still being on-chain.
Through the acquisition, the team brings deep prediction market expertise that Coinbase plans to use to scale this new category following the recent rollout of prediction markets to users.
The move also supports Coinbase’s vision of becoming the “Everything Exchange,” where users can trade all asset classes.
Before the acquisition, The Clearing Company secured $15 million in a seed round in August, led by heavyweights like Union Square Ventures and Coinbase Ventures.
Source: https://cryptobriefing.com/prediction-markets-expansion-coinbase/
