Coinbase Is Acquiring A Prediction Markets Startup

Coinbase is getting serious about prediction markets. Which is exactly why they are making a new acquisition.

What’s happening:

• Coinbase (NASDAQ: COIN) has entered into a new deal to acquire San Francisco based prediction markets startup The Clearing Company
  

Why it matters:‍

• This is the first acquisition Coinbase has ever made focused on expanding their presence in prediction markets
  

Going deeper:‍

• The Clearing Company has developed backend blockchain infrastructure for trading platforms and brokerages to be able to leverage instead of building their own proprietary technology to offer prediction markets and event contracts
  
• Coinbase just recently made waves on Wall Street when they launched stock trading for users in the United States as part of their new push to expand beyond just digital assets
  

The intrigue:‍

• There has been a race to acquire prediction markets companies on Wall Street lately, with Robinhood (NASDAQ: HOOD) notably entering into a deal to buy 90% of regulated futures exchange MIAXdx

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