Prediction becomes product.

During Coinbase's earnings call, Brian Armstrong mentioned Polymarket, the crypto-based prediction platform that's become a low-key barometer of market sentiment.

The mention denotes how far prediction markets have come, from speculation to tools that large companies now acknowledge.

Despite growing volume, most remain restricted in the U.S. under gaming and derivatives rules, which douses the flame on growth.

Still, active users are growing, and traders are treating these markets as early indicators of everything from product launches to macro events like elections.