Coinbase rolls out biggest app overhaul yet, adding stocks, derivatives and prediction markets

Coinbase's Strategic Shift - Coinbase is introducing new features to transform its app into a comprehensive financial platform, including stocks, advanced trading, and prediction markets [1] - The company aims to become a next-generation brokerage by integrating outcome trading into its app [4] - Coinbase intends to expand its on-chain ecosystem and tools for businesses and developers [1] Competitive Landscape - The prediction market space is becoming increasingly competitive, with players like Cowshi and Poly Market [2] - Robin Hood has entered the prediction market space with NFL event contracts [3] - Robin Hood's event contracts have seen significant growth, with over 11 billion contracts traded [5] Prediction Markets as Information Products - Coinbase views prediction markets as a potential mass market information product, with trading as one use case and information gathering as another [3] - The company believes prediction markets can compete with traditional media and entertainment as a way to understand real-time events [3] Financial Performance and Diversification - Coinbase's stock is down approximately 5% year-to-date [5] - The company sees diversification into new products as a way to attract new users and retain them during periods of lower crypto prices [5]