Coinbase Buys Prediction Market Startup Headed By Ex-Polymarket Executive As It Looks To 'Accelerate' Ambitions For 'Exciting' Business - Bullish (NYSE:BLSH), Coinbase Global (NASDAQ:COIN)

Group 1 - Coinbase Global Inc. announced the acquisition of prediction market startup The Clearing Company to enhance its offerings in the emerging sector [1] - The Clearing Company secured $15 million in venture funding in August, aiming to create an on-chain, permissionless prediction market [1] - Toni Gemayel, the leader of The Clearing Company, has prior experience as Head of Growth for Polymarket and Kalshi [1] Group 2 - Coinbase aims to scale world-class prediction markets trading as part of its "Everything Exchange" strategy [2] - The announcement follows Coinbase's integration with Kalshi to power its prediction markets, joining Robinhood Markets, which partnered with Kalshi earlier this year [2] Group 3 - Coinbase filed lawsuits against Michigan, Illinois, and Connecticut, challenging state authority over prediction market regulation, advocating for the Commodity Futures Trading Commission as the sole regulator [3] - This legal action aligns with Coinbase's strategy to expand its offerings and provide a comprehensive trading platform [3] Group 4 - Coinbase introduced a new stock trading feature, set to roll out for select U.S. users [4] - Coinbase shares rose 0.20% in after-hours trading to $248.40, with a regular session close of $247.90, reflecting a 1.13% increase [4] Group 5 - Growth is identified as the strongest category for Coinbase, with a ranking of 96.55 out of 100 according to Benzinga's proprietary Edge Rankings [5]