Coinbase Agrees to Acquire The Clearing Company to Expand Prediction Market and ‘Everything Exchange’ Vision

Coinbase (COIN) has agreed to acquire The Clearing Company, a San Francisco–based startup, as part of its broader strategy to expand its newly launched prediction market and transform its platform into an all-in-one destination for trading. The financial terms of the acquisition were not disclosed, and the transaction is expected to close in January.

The Clearing Company is led by Toni Gemayel, an industry veteran with deep experience in event-based trading and prediction markets. Gemayel previously served as head of growth at Kalshi, a regulated prediction market, and has worked extensively across the digital assets and derivatives ecosystem. Coinbase said the acquisition will bring in a highly specialized team with experience building, scaling, and operating event-driven trading systems. The team includes professionals with backgrounds at Polymarket, a blockchain-based prediction platform, as well as a former chief compliance officer from Kalshi.

The deal comes as prediction markets gain significant momentum. According to Dune Analytics data, weekly notional trading volume across prediction markets has surpassed $4 billion, reflecting growing demand for products tied to real-world events. Recently, Coinbase began allowing users to trade on the outcomes of political elections, economic indicators, cultural events, and sports through a partnership with Kalshi, marking a major expansion of its product lineup.

Coinbase has positioned this initiative as a key step toward becoming the “Everything Exchange.” In addition to prediction markets, the company plans to broaden its platform to include novel cryptocurrencies, perpetual futures contracts, and stock trading. This strategy places Coinbase in more direct competition with rivals such as Robinhood, Kraken, and Gemini, which have already introduced equity trading and prediction market features for their users.

The Clearing Company has attracted notable investor interest. In August, the startup raised $15 million in a seed funding round led by Union Square Ventures, with participation from Coinbase Ventures. More recently, it applied for a license from the Commodity Futures Trading Commission to operate a clearinghouse, highlighting its focus on regulatory compliance and institutional-grade infrastructure.

With this acquisition, Coinbase aims to strengthen its prediction market capabilities while accelerating its evolution into a comprehensive trading platform spanning crypto, derivatives, equities, and event-based markets.