Kalshi & Coinbase

Kalshi: Kalshi's bitcoin perpetual contracts were approved by the CFTC in May, setting a precedent that helped pave the way for Kraken's own launch of regulated perpetual futures.

Coinbase: Coinbase is a rival exchange that also recently received approval to provide access to global crypto perpetual futures liquidity for U.S. users, intensifying competition in the regulated U.S. crypto market.

Kalshi: Kalshi is another prediction market operator facing regulatory scrutiny and legal challenges, similar to Polymarket, regarding jurisdiction and potential insider trading.

Coinbase: Coinbase received approval to list regulated crypto perpetual futures, an action that CME Group is challenging in its lawsuit against the United States — United States Commodity Futures Trading Commission.

Kalshi: Kalshi is a potential partner for Meta Platforms' new prediction-market app, Arena.

Coinbase: Coinbase is mentioned as one of several major companies that implemented mass layoffs this year, providing context to the broader tech industry trend.