Coinbase Says CFTC Approved It to List Its Own Prediction-Market Contracts

Coinbase co-founder and CEO Brian Armstrong said Thursday the CFTC approved the company to list its own prediction-market contracts, an approval he said “will improve our economics.” The business surpassed $200 million in annualized revenue during the third quarter. Daily traders rose more than 60% from the previous quarter, and more than half of Q3 contracts traded were outside sports. Coinbase’s prediction-markets business also featured in a comparison of five Web3 prediction-market projects . Coinbase’s total revenue was $1.2 billion, roughly flat quarter over quarter despite a 10% decline in total market crypto trading volume.

Source: TokenPost