Coinbase Global has entered into a definitive agreement to acquire The Clearing Company, a startup specializing in onchain, regulated prediction markets, for an undisclosed sum. The deal, expected to close in Jan 2026, marks the exchange’s tenth acquisition of 2025 and follows the launch of its own event-contract trading platform just last week.
Coinbase To Acquire The Clearing Company In Prediction Markets Push
22 December 2025 - 18:20 CET
By Stu Clelland
Integrating the "Everything Exchange" roadmap
The acquisition is a core component of Coinbase’s strategy to transition from a digital asset platform to what it terms an "Everything Exchange". By integrating prediction markets, Coinbase allows users to trade on the outcomes of real-world events, ranging from economic data and elections to sports, within the same interface as cryptocurrencies, equities, and derivatives.
The Clearing Company’s team, led by founder Toni Gemayel, brings institutional knowledge from industry leaders Polymarket and Kalshi. Gemayel’s startup had already applied for a Derivatives Clearing Organization (DCO) license from the Commodity Futures Trading Commission (CFTC) in Nov 2025, aiming to provide the compliant "plumbing" for event-based trading.
Capturing the prediction market surge
Prediction markets entered the mainstream during the 2024 US presidential cycle and have since become a high-engagement asset class. Coinbase’s move directly challenges established brokerages like Robinhood and Interactive Brokers, which have similarly expanded into event contracts.
The financial terms of the deal were not disclosed, though a Coinbase spokesperson described the value as "immaterial". The Clearing Company previously raised a $15mn ($15mn) seed round in Aug 2025, which included backing from Union Square Ventures and Coinbase Ventures.
Strategic diversification amid fee pressure
Diversifying into non-crypto assets allows Coinbase to reduce its reliance on cyclical transaction fees from retail crypto trading. The integration of event contracts is expected to increase "platform stickiness" by keeping users within the Coinbase ecosystem for a broader range of speculative and hedging activities.
