ION partners with Coinbase to support Kalshi's event contracts

ION is partnering with Coinbase (COIN) to use ION's XTP for Event Contracts platform to support event contract clearing for Kalshi, described as the world's largest prediction market.

Rhea-AI Summary

ION is partnering with Coinbase (COIN) to use ION's XTP for Event Contracts platform to support event contract clearing for Kalshi, described as the world's largest prediction market.

The XTP extension automates real-time creation, resolution, and settlement of event-based contracts, enabling Coinbase to process event contracts with minimal changes to existing operations, onboard tens of thousands of accounts per day, and run fully automated 24/7 workflows. In an initial rollout supporting Kalshi's listings, XTP handled high trading volumes, including one million trades over Super Bowl weekend, and allows Futures Commission Merchants to manage event contracts alongside existing ETD and cOTC business in a single solution.

Market Context

COIN stood at $178.94 pre-headline after a 3.09% decline; the announcement added Coinbase's event-co...

Analysis

COIN stood at $178.94 pre-headline after a 3.09% decline; the announcement added Coinbase's event-contract clearing infrastructure, while the momentum scanner listed no peers, so the move was not confirmed as sector-wide.

Key Figures

Trade processing: one million trades Account onboarding: tens of thousands of accounts per day Processing availability: 24/7 processing +1 more

Trade processing

one million trades

Initial rollout over Super Bowl weekend

Account onboarding

tens of thousands of accounts per day

Event-contract processing capability

Processing availability

24/7 processing

XTP for Event Contracts

Prior partnership milestone

December 2025

ION and Coinbase began supporting Kalshi listings

Key Terms

event contracts, futures commission merchants, etd

3 terms

event contracts financial

"Coinbase has selected ION's XTP for Event Contracts to support event contract clearing"

Contracts whose payment or settlement depends solely on whether a specific, predefined event happens or not — for example a drug approval, a corporate takeover, a loan default, or a weather disaster. Think of them like a focused bet or insurance policy: investors can use them to take a targeted position, hedge exposure, or speculate on an outcome without owning the underlying company, and their results can rapidly change an investor’s gains, losses and risk profile when the event occurs.

futures commission merchants regulatory

"XTP for Event Contracts provides Futures Commission Merchants (FCMs)"

Futures commission merchants (FCMs) are licensed firms that accept orders to buy and sell futures and options on futures, handle customer funds and margins, and route trades to exchanges or clearinghouses. Think of them as a specialized broker or travel agent for futures: they provide access, execute transactions, hold collateral, and manage the paperwork and regulatory protections that matter to investors, since their fees, reliability and risk controls directly affect trading costs and counterparty safety.

etd financial

"run event contracts alongside existing ETD and cOTC business"

An ETD is an exchange-traded derivative: a standardized contract, such as a futures or options contract, bought and sold on a regulated exchange rather than privately between parties. Like a preseason ticket for a game that guarantees a seat under fixed terms, an ETD locks in price, quantity and settlement rules set by the exchange, making it easier to trade, price and manage risk; investors use them to hedge positions or gain exposure without owning the underlying asset.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

LONDON and NEW YORK, Sept. 9, 2026 /PRNewswire/ -- ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates, announces that Coinbase has selected ION's XTP for Event Contracts to support event contract clearing for Kalshi, the world's largest prediction market.

Event Contracts is ION's latest extension to its flagship XTP solution, offering a fully automated, real-time platform for the creation, resolution, and settlement of event-based contracts. It provides Coinbase with the ability to confidently support execution and processing of event contracts in real-time with minimal impact to existing operational processes while supporting real-time contract design capability, onboarding of tens of thousands of accounts per day, and fully automated 24/7 processing.

ION and Coinbase partnered to support Kalshi's listing of event contracts in December 2025. XTP's modern architecture has enabled the adoption of an accelerated deployment timeframe through three-way collaboration between ION, Coinbase and Kalshi, who worked to expedite analysis, development, and rollout. During the initial rollout, XTP demonstrated its ability to support high-volume activity for Kalshi, including processing its first one million trades over Super Bowl weekend.

XTP for Event Contracts provides Futures Commission Merchants (FCMs) with a unique opportunity to run event contracts alongside existing ETD and cOTC business in a single solution, thanks to native reporting, automated settlement, and multiexchange connectivity. The result is fast onboarding, low operational lift, and seamless scaling as the volume grows. Already relied upon by leading FCMs, XTP now brings the same robustness and real-time processing to the fast-growing prediction market sector. 

Toni Gemayel, Head of Prediction Markets at Coinbase, said: "Partnering with ION provides the operational infrastructure needed to support our expanding event contracts business. XTP's real-time processing capability allows us to manage growing prediction market volumes while maintaining the back-office stability and execution standards."

Max Crowley, Vice President of Business Development at Kalshi, said: "We're excited that XTP can support Kalshi and Coinbase FCM in this offering. Safe and regulated markets require not only strong exchange rules and oversight, but also sound operational risk management and processing such as that provided by XTP."

Samuel Shorthouse, Head of Client Engagement, Cleared Derivatives at ION, said: "We are pleased to partner with Coinbase and Kalshi as they expand access to regulated event‑based markets at a time when this sector is evolving rapidly. Deploying XTP to support these workflows provides a robust and trusted foundation with real‑time capabilities that help clients manage their activity effectively. This collaboration reflects our commitment to supporting the growth of this emerging market in a secure, scalable, and sustainable way."

About ION

ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their businesses for sustained success through continuous innovation. For more information, visit https://iongroup.com/.

About Coinbase Inc.

Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom in the world. The most trusted crypto platform, Coinbase stores more digital assets than any other company and is building the everything exchange — one place to access crypto, equities, derivatives, prediction markets, and more. Coinbase serves consumers through its suite of financial apps, institutions through Coinbase Prime, and developers through the Coinbase Developer Platform. Coinbase's full-stack platform was purpose-built to power the future of finance: secure custody, deep exchange liquidity, stablecoin infrastructure, and global settlement rails — all built on a decade-plus foundation of security and compliance.

About Kalshi

Founded in 2018, Kalshi is the world's next-generation financial exchange. Prediction markets provide accurate, real-time information on the likelihood of events, making humanity more informed about the future. As the first regulated exchange for events, Kalshi is credited with legalizing and establishing prediction markets as a financial asset class. It's the leading safe and regulated platform, trusted by millions of people and a growing number of institutions in America. To learn more about Kalshi, visit www.kalshi.com.

All product and company names herein may be trademarks of their registered owners.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ion-partners-with-coinbase-to-support-kalshis-event-contracts-302872997.html

SOURCE ION