ION has partnered with Coinbase to support the trading of Kalshi's event contracts. This collaboration integrates ION's exchange and clearing technology with Coinbase's consumer platform, creating a streamlined supply chain for prediction markets. Kalshi provides the CFTC-regulated marketplace, while Coinbase serves as the storefront for users to place bets on real-world outcomes starting at $1.
Coinbase first announced the integration of Kalshi's event contracts into its app on December 17, 2025. The integration covers categories such as economic indicators, sports, and elections. Nationwide availability in the US was targeted for late January 2026, with Coinbase Financial Markets managing the brokerage side of the operation.
ION launched its XTP for Event Contracts solution to automate trading and clearing processes. The initial rollout occurred in December 2025 through a partnership with Wedbush Securities, followed by a full product launch on April 29, 2026. This off-the-shelf technology allows brokers and exchanges to deploy event-based trading infrastructure rapidly.
Kalshi has seen significant growth, reaching a cumulative notional volume of $34.5 billion by late January 2026. The platform reportedly raised $1 billion at an $11 billion valuation. Its CFTC-regulated status allows it to operate under the same rules as futures exchanges, distinguishing it from crypto-native prediction platforms.
