Coinbase prediction markets top $200M annualized revenue while Q3 net revenue falls 34%

Coinbase Global reported third-quarter net revenue of $1.16 billion , down 34% from $1.76 billion a year earlier and below the $1.21 billion analysts expected. Subdued crypto volatility and lighter trading weighed on the core business, but the prediction market unit , in operation for less than a year, posted some of the fastest growth in the exchange’s history . The largest regulated US cryptocurrency exchange said its prediction market business “surpassed $200 million in annualized revenue” in the September quarter , while “daily traders grew 60%+ quarter-over-quarter.” “ Prediction markets see 82% quarterly compound growth since launch : Coinbase…