Brian Armstrong

We think everything should be tradable, but prediction markets are this really important new emerging category.

So I'd say prediction markets, there's a few parts to it.

So some of it, frankly, is people betting on these outcomes in sporting games and things like that.

Okay, that's one thing.

The more intellectually interesting part of it to me is that people are also betting on what's going to happen in the next week or two, almost as an alternative to traditional media.

Sorry, not to create a competitive thing here.

And they're trying to, so it could be on a political election, it could be what are interest rates gonna be next quarter, it could be is the Suez Canal gonna be reopened, because I need to understand if I can put my ships through there as a multinational.

And so people are just trying to figure out what is true, or what is gonna happen in the future.

And what we've found is that there's much higher signal when people have to put skin in the game with real money.

So I think that prediction markets are potentially an alternative to traditional media in some way.

The other crazy idea that could emerge here is that I think policy legislators will use it to understand what policy could be best.

So for instance, if there's three proposals and you wanna see which one is going to lower unemployment the most, you can actually put those proposals out where if they are enacted and this happens, you could get a payout.

The market will basically give you very clear feedback about which policy they most believe should be implemented and maybe that helps legislators decide what to do.

Yeah, well, we just announced stock trading on Coinbase, prediction markets back in December, and we've seen really rapid growth of that since then.

We also have a number, we actually now have millions of assets, believe it or not, crypto assets you can trade on Coinbase.

So it's far ahead of the competition.

one you mentioned and others.

And we also allow people to trade CFTC regulated perpetual style futures on Coinbase, which is unique.

So I would say we caught up on the things that we were behind on and we're actually pretty far ahead on some of the other ones.

Well, there's a number of crypto companies that grew up internationally that have tried at various points to come into the US.