ION partners with Coinbase to support Kalshi’s event contracts

By Divya Shah

Coinbase partners with ION’s XTP for an Event Contracts solution to enhance the clearing and processing of event contracts for Kalshi, a prediction market platform, as demand for event-based trading continues to grow. 

The deployment extends ION’s XTP platform into the prediction markets segment, providing Coinbase with a real-time, automated infrastructure for the creation, resolution, and settlement of event contracts. The platform is designed to support large-scale account onboarding, continuous 24/7 operations, and high-volume transaction processing while minimising disruption to existing workflows. 

The collaboration builds on the relationship between ION, Coinbase, and Kalshi, which began with Kalshi’s event contracts launch in December 2025. The platform’s architecture enabled a rapid implementation process through close coordination between the three organisations. 

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.” 

During the initial rollout, XTP supported significant trading volumes, including the processing of more than one million trades during the Super Bowl weekend. The platform combines native reporting, automated settlement, and multi-exchange connectivity, allowing Futures Commission Merchants (FCMs) to manage event contracts alongside traditional exchange-traded derivatives and cleared OTC products within a single environment. 

For FinTech and digital asset firms operating in emerging markets such as prediction trading, the solution offers scalable processing, faster client onboarding, and automation capabilities that reduce operational complexity as volumes increase. 

Samuel Shorthouse, Head of Client Engagement, Cleared Derivatives, ION, said, “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.”