Daily prediction traders rose more than 60% on the quarter as Coinbase’s wider revenue held at $1.2bn.
The hit
Coinbase’s prediction markets business now runs at more than $200m a year on an annualised basis, even as the wider crypto market slowed. The exchange reported the figure alongside Q3 earnings on 29 October.
Why it matters
The number turns prediction markets into a small but fast-growing slice of Coinbase’s business, alongside subscriptions, staking & stablecoin income. CEO Brian Armstrong called it “one of the fastest-growing products by revenue in Coinbase history.”
The record
| Prediction markets run rate | $200m+ a year (Coinbase, Q3) |
|---|---|
| Revenue growth since launch | 82% compound quarterly rate (Coinbase) |
| Daily prediction traders | Up more than 60% vs Q2 (Coinbase) |
| Non-sports share of contracts | Over 50% in Q3 (CFO Alesia Haas) |
| Total company revenue | $1.2bn, flat despite 10% market-wide volume drop (Coinbase) |
What happens next
Armstrong says Coinbase has CFTC approval to list its own prediction market contracts, which he says will improve its economics.
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