Coinbase plans to launch a prediction market and tokenized equities on December 17. Screenshots hint at early features, with Kalshi powering predictions. Competitors like Gemini and Crypto.com are also entering the prediction market space, while Polymarket faced scrutiny and a ban in the US.

Prediction markets are booming, with $28 billion in trading volume this year. The US predictive analytics industry is valued at $14 billion and expected to grow to $32.85 billion by 2030. However, state and federal regulators are cracking down on the sector due to legal uncertainties and concerns about corruption.

Lawmakers are targeting political betting, with Reps. Raskin and Salinas introducing a bill to ban election gambling. Sen. Merkley warns of corruption risks, while international countries like Taiwan already prohibit election wagering. Polymarket has faced accusations of inflated volume through wash trading.

Amid regulatory challenges, Kalshi, Crypto.com, Coinbase, and others formed the Coalition for Prediction Markets. The group aims to advocate for federally supervised, transparent access to prediction markets to ensure consumer protection and prevent corruption. Industry leaders stress the need for clarity and consistency in regulations.

Read more at Yahoo Finance: Coinbase Preps Prediction Market, Tokenized Equities Launch for December 17: Report