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Coinbase is set to launch prediction markets powered by Kalshi, CNBC reports. The announcement could come as early as next week during the company’s Dec. 17 “System Update” event.

The UK Treasury will bring crypto firms under Financial Conduct Authority oversight by 2027. The move aims to align digital assets with existing financial regulations for stocks and shares.

Itaú Asset Management, Brazil’s largest private asset manager, is recommending investors allocate 1% to 3% of their portfolios to bitcoin, calling it a useful hedge against currency swings and market shocks.

Top stories in the Crypto Roundup today:

• Coinbase to Launch Kalshi-Powered Prediction Markets
• UK Treasury Plans Full Crypto Regulation by 2027 Under Financial Conduct Authority Oversight
• Brazil’s Largest Asset Manager Recommends 1–3% Bitcoin Allocation to Hedge Market Risks

Coinbase to Launch Kalshi-Powered Prediction Markets Amid Product Expansion

Coinbase is set to launch prediction markets powered by Kalshi, CNBC reports. The announcement could come as early as next week during the company’s Dec. 17 “System Update” event.

The new product will allow users to trade contracts based on real-world events, such as elections or inflation reports, and reflects Coinbase’s push to expand beyond crypto trading. Kalshi, a U.S.-regulated prediction markets operator, will be the sole provider at launch.

This move comes as Coinbase looks to position itself as a broader financial platform, offering tokenized stocks and event contracts alongside crypto. CEO Brian Armstrong has described this vision as building an “everything exchange.”

Kalshi has already integrated its markets into Robinhood and is seeking more brokerage deals as competition in the prediction space heats up.

UK Treasury Plans Full Crypto Regulation by 2027 Under Financial Conduct Authority Oversight

The UK Treasury will bring crypto firms under Financial Conduct Authority oversight by 2027. The move aims to align digital assets with existing financial regulations for stocks and shares.

Officials say the rules will improve transparency and protect consumers as crypto scams and fraud cases rise. Chancellor Rachel Reeves said the changes will give firms clearer guidelines and strengthen safeguards for investors.

The rules are expected to crack down on misleading crypto schemes and improve enforcement against financial crimes. Ministers also plan to ban political donations in crypto, citing concerns about verifying the source of the funds.

Brazil’s Largest Asset Manager Recommends 1–3% Bitcoin Allocation to Hedge Market Risks

Itaú Asset Management, Brazil’s largest private asset manager, is recommending investors allocate 1% to 3% of their portfolios to bitcoin, calling it a useful hedge against currency swings and market shocks.

In a year-end note, the firm’s head of beta strategies, Renato Eid, said bitcoin’s weak correlation with traditional assets makes it a complementary tool for diversification. He advised a steady, long-term approach rather than short-term bets.

“The idea is not to make crypto the core of the portfolio,” Eid wrote, but to size it based on each investor’s risk tolerance.

The recommendation follows similar moves from BlackRock and Bank of America, which recently endorsed small bitcoin allocations for certain clients.

State of the Crypto by Top Tier Exchange Volume

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