Prediction Markets Hit 12 Billion January Record as Coinbase Joined U.S. Trading

The report also said Kalshi reached an 11 billion valuation. That valuation figure set the context for why Coinbase chose a partner. A large venue reduced early product risk for Coinbase.

Coinbases entry also raised questions about contract selection and compliance. The report said users traded elections, sports, and economic indicators. That mix could expand volumes but also raise scrutiny sensitivity.

The move also fits Coinbases push toward broader product categories, the report said. It described Coinbase as building an “everything exchange” model. That framing suggested Coinbase planned further event listings.

Outlook for Prediction Markets After the January Record

The January record set a high bar for near-term comparisons. Wu Blockchains data pointed to 12 billion monthly volume as the latest peak. Prediction markets often showed bursty flows around major event cycles.

Coinbases U.S. platform added a new distribution channel. The other report said the Kalshi partnership opened access under a regulated framework. That could pull incremental traders toward event contracts.

Fee leadership also created a competitive map for 2026 positioning. Opinion led January fees at 6.14 million, Wu Blockchain said. Polymarket followed at 2.62 million, per the same data.

The next signal likely came from whether billion-volume venues repeated January levels. Traders usually returned where contract design stayed tight and liquid. Prediction markets now faced a test of retention after a record month.