Coinbase Acquires The Clearing Company as Prediction Markets Go Mainstream
Coinbase has acquired prediction market infrastructure startup The Clearing Company, marking its biggest step yet into event-based trading just days after previewing prediction markets as a new product focus.
In its announcement, Coinbase described The Clearing Company as a team built by “prediction market veterans” led by founder Toni Gemayel. Gemayel previously held growth leadership roles at both Polymarket and Kalshi, experience Coinbase says will help it scale prediction market trading inside its own platform and push faster toward its broader “Everything Exchange” strategy.
Coinbase’s “Everything Exchange” pitch is straightforward: one app where users can trade across asset classes in a single interface. The company argues prediction markets fit naturally alongside crypto, equities, and cash, especially if users can manage positions in the same place they already track their portfolios.
The deal also follows early momentum for The Clearing Company. The startup launched this year and raised a reported $15 million seed round that included Coinbase Ventures. Reports indicate the acquisition was structured as a mix of cash and Coinbase stock, and that the entire The Clearing Company team is joining Coinbase.
What makes the purchase strategically important is the plumbing. The Clearing Company focused on the back-end systems that power and settle prediction market contracts rather than building a consumer-facing exchange. Its goal was to act as neutral infrastructure—letting brokerages and trading apps plug in and offer prediction markets next to traditional products.
The company also applied to the U.S. Commodity Futures Trading Commission to become a Derivatives Clearing Organization, a move that aligns with Coinbase’s stated goal of expanding regulated market access.
Coinbase first teased prediction markets in its Dec. 17 product update, saying it plans to broaden contract offerings and support additional prediction market platforms in the months ahead.