Prediction market Kalshi has chosen Coinbase to custody USDC for its event contracts, which enable trading based on real-world event outcomes. The move is expected to ensure security for Kalshi users who deposit or get paid out in USDC, a stablecoin backed by the U.S. dollar.
Coinbase is focused on increasing economic freedom by enabling cryptoeconomy participation, and its crypto custodial solutions are meant to bolster speed, security and compliance for enterprises that deal in digital assets. Kalshi, which operates an exchange that allows traders to capitalize on their predictions in areas ranging from sports to economics, has designated USDC to power its trading platform because it combines crypto efficiency with the reliability of traditional finance. The partnership with Coinbase is aimed at providing institutional-grade protection to enhance trader confidence.
Coinbase Custody will safeguard all USDC held on Kalshi, supporting efforts to bring event-based trading into the mainstream and aligning with the exchange’s regulated framework under the Commodity Futures Trading Commission.
