Coinbase (COIN) is ready to show off what it's been building. CEO Brian Armstrong took to X on November 18 with a simple message: "Here we go!" The cryptocurrency exchange is hosting its first product showcase event on December 17, and Armstrong promised to reveal "a lot of cool new products."

While Coinbase is keeping the official details under wraps, app researcher Jane Manchun Wong—who has a track record of uncovering unreleased features before companies announce them—appears to have spoiled at least some of the surprise. According to Wong's findings, Coinbase is preparing to launch a prediction market powered by Kalshi.

Building on an Existing Partnership

The Kalshi collaboration wouldn't be completely new territory for Coinbase. Earlier this month, the exchange announced that Kalshi had selected it as a custody partner. A prediction market product would deepen that relationship considerably.

But that's not all Wong discovered. Coinbase also appears ready to launch stock trading capabilities and an AI assistant called "Genie." The stock trading feature would put Coinbase in direct competition with Robinhood (HOOD) and Kraken, expanding beyond its crypto roots into traditional equities.

When MarketDash reached out for comment, a Coinbase spokesperson kept things vague: "Tune in to the livestream on Dec. 17 to find out what new products we are shipping." Kalshi declined to comment.

The Everything Exchange Vision

For anyone who's been paying attention to Coinbase's messaging this year, none of these leaked products should be particularly shocking. The company has been telegraphing this direction for months.

"We're building an exchange for everything," Coinbase Vice President of Product Max Branzburg told CNBC back in July. "Everything you want to trade, in a one-stop shop, on-chain. … We're bringing all assets on-chain — stocks, prediction markets, and more. We're building the foundations for a faster, more accessible, more global economy."

That's an ambitious vision, and Coinbase has been assembling the team to execute it. The product launch teaser comes roughly a week after the company hired Liz Martin, a former Goldman Sachs (GS) partner, as vice president of product. Martin will oversee Coinbase's markets and derivatives divisions, helping the company realize its "everything exchange" concept by growing its derivatives business and managing its global markets team.

What It Means

Coinbase is essentially betting that the future of trading isn't about having separate platforms for crypto, stocks, and prediction markets. Instead, they're building a unified platform where everything lives on-chain. Whether that vision resonates with users—and whether regulators will allow it—remains to be seen. But on December 17, we'll at least get a clearer picture of what Coinbase thinks the future looks like.