Catenaa, Wednesday, December 31, 2025-Coinbase has agreed to acquire prediction markets startup The Clearing Company as the crypto exchange operator expands event-based trading under its broader strategy to offer multiple asset classes on one platform.
The deal follows Coinbase’s rollout of prediction markets last week, which allows users to trade on outcomes tied to elections, economic indicators and sports alongside crypto, derivatives and equities.
The transaction is subject to standard closing conditions and is expected to close in January, the company said.
The Clearing Company was founded earlier this year by Toni Gemayel, a former growth executive at Polymarket and Kalshi.
The startup raised a $15 million seed round in August with participation from Coinbase Ventures and focused on building a regulated, onchain prediction markets platform.
After the acquisition, The Clearing Company’s team will support the scaling of Coinbase’s prediction markets offering.
The startup employed about 10 people, and most of the team will join Coinbase as part of the transaction.
Coinbase said the deal value was immaterial and consists of a mix of cash and Coinbase stock.
Coinbase launched its prediction markets through a regulated venue and initially sourced liquidity from Kalshi.
The company plans to broaden the product over time by adding more platforms and market types.
The acquisition marks Coinbase’s tenth announced deal in 2025. Other transactions this year included Roam, Spindl, Iron Fish, Deribit, Opyn Markets, Liquifi, Sensible, Echo and Vector.fun.
Prediction markets have gained momentum as exchanges and fintech firms look beyond spot trading to products linked to real-world events.
Polymarket and Kalshi, the two largest platforms, recorded combined trading volumes of about $8 billion in November, according to The Block data.
