Coinbase faces funding challenges for prediction markets compared to Robinhood, survey shows. 50% of Robinhood users plan to use fresh cash for wagers, only 37% of Coinbase users. Analysts are cautious about potential cannibalization affecting Coinbase’s push into prediction markets. Coinbase expected to reveal new products to compete with Robinhood.

Mizuho analysts cut Coinbase’s price target to $280 from $320 due to softer trends, including Bitcoin’s plunge from $126,000 to $87,690. Robinhood and Coinbase users are nine times more likely to engage in prediction markets. Crypto’s speculative nature drives interest in prediction markets during bearish crypto markets.

Survey reveals most Robinhood and Coinbase users already engage in prediction markets elsewhere. Retail firms see opportunities in prediction markets, NYSE parent company invests $2 billion in Polymarket. Intercontinental Exchange CEO notes half of customers interested in prediction markets. Coinbase shares rise slightly to $253, down 10% in the past month.

Read more at Yahoo Finance: Coinbase Risks Crypto ‘Cannibalization’ With Prediction Market Push: Mizuho