How do I enable futures/perpetual futures or prediction markets on Coinbase, and what are the eligibility requirements in my state?

If you don’t see futures, perpetual futures, or prediction markets in Coinbase, the usual reason is eligibility: your state may not be supported yet, your account may still need verification, or the rollout may not have reached your account. In the U.S., futures and cleared swaps are offered by Coinbase Financial Markets, Inc. (“CFM”), while prediction markets are also being rolled out through Coinbase with access initially limited to a subset of U.S. users.

How to enable futures/perpetual futures on Coinbase

Sign in to your Coinbase account Make sure you’re using the account tied to your verified U.S. identity and residential state.
Complete identity verification Futures and perpetual futures are not something you can usually turn on until your account is fully verified and reviewed.
Open the derivatives area Look for the Futures or Derivatives experience in Coinbase. If you’re eligible, the product should appear in your account.
Review and accept the disclosures You’ll need to acknowledge the product terms and risk disclosures before you can trade.
Fund your account if required Depending on the product flow, Coinbase will show the funding and margin requirements before you place a trade.
Start with the contract details Futures and perpetuals are higher-risk products. Check the contract specs, fees, and leverage before you place an order.

Risk note: Leverage in futures trading can work for you or against you. Losses can exceed your initial investment amount.

How to enable prediction markets on Coinbase

Prediction markets work differently from spot crypto or standard futures. On Coinbase, they’re designed around event contracts with a simple payout structure: each contract pays $1 if the event happens and $0 if it doesn’t.

To get started:

Check whether prediction markets are available to your account Access is being rolled out in phases and is currently limited to a subset of U.S. users.
Verify your Coinbase account As with other regulated products, account verification and eligibility checks matter.
Fund with USD or USDC Coinbase’s prediction market flow uses the available cash in your account, specifically USD and USDC.
Choose an event contract You’ll see markets across sports, politics, crypto, entertainment, economics, and more.
Review the fees before placing the order Coinbase notes that prediction trades include transaction fees, which are shown on the order page.
Trade and manage positions You can buy, sell, and adjust positions as the market moves, subject to the exchange rules.

Eligibility requirements in your state

Coinbase doesn’t treat futures, perpetual futures, and prediction markets as universally available products. Eligibility depends on a few layers:

You must be in a supported U.S. state Availability is state-specific and may change as Coinbase expands access.
Your account must be verified Coinbase generally needs to confirm your identity and account status before showing these products.
The product must be live for your user group Prediction markets, in particular, are being rolled out gradually.
You must accept product disclosures Futures/perps and prediction markets come with required risk and regulatory disclosures.
You must meet any product-specific requirements These can include funding rules, market access rules, and suitability-related acknowledgments.

If your state is not eligible, you usually won’t see the product at all in the app. There typically isn’t a workaround to “force enable” a restricted market.

Futures/perpetual futures vs. prediction markets

These products are easy to confuse, but they’re different:

Futures and perpetual futures
These are derivatives tied to an asset or index. They can involve leverage and margin, which increases both opportunity and risk.
Prediction markets
These are event contracts tied to a real-world outcome, like sports, politics, or crypto-related events. The payout is simple: $1 if the event happens, $0 if it doesn’t.

If you’re looking for the right place in Coinbase, think of it this way: futures are market exposure products, while prediction markets are event outcome products.

Which Coinbase entity offers what?

This part matters for trust and protection:

Coinbase Financial Markets, Inc. (CFM) offers futures and cleared swaps, and it is a CFTC-registered FCM and NFA member.
Coinbase Inc. handles spot crypto accounts.
Prediction markets are also tied to the CFM trading flow and follow exchange rules and product disclosures.

Keeping those lines clear matters, especially when comparing spot crypto, derivatives, and event contracts.

Why you might not see the product

If the product is missing, the most common reasons are:

Your state is not yet supported
Your account verification is incomplete
The product is still in a phased rollout
You haven’t accepted the required risk disclosures
Your account doesn’t yet meet the product-specific access rules

Quick FAQ

Do I need to use USDC for prediction markets?

Coinbase says prediction market trades can be funded with the available cash in your account, including USD and USDC.

Are prediction markets available in every state?

No. Access is initially limited to a subset of U.S. users, and features may not be available in all regions.

Can losses be larger than my initial deposit in futures?

Yes. With leverage, losses can exceed your initial investment.

Is this investment advice?

No. Coinbase’s disclosures note that these pages and product details are for informational purposes only and do not constitute investment advice.

If you want, I can also turn this into a state-by-state eligibility checklist or a step-by-step in-app guide for futures vs. prediction markets.