Kraken parent Payward's adjusted EBITDA falls about 66% to $60 million as trading volume drops 30%, with US prediction markets on its roadmap

Payward, the parent company of the Kraken exchange, reported third-quarter adjusted EBITDA of $60 million on Friday, down about 66% from $178.6 million a year earlier, according to The Block. Its total platform margin, the company's own measure, which deducts staking rewards paid to customers, was $487 million, down 12% from a year earlier. Transaction volume was $353 billion, down 30%. TokenPost reported the same dollar figures, though it called the $487 million platform revenue and put the EBITDA decline at 67%.

Funded accounts, those holding a positive balance, rose 37% from a year earlier to 7.1 million.

US prediction markets are on Payward's roadmap, though The Block reports no launch date. It is also developing stock perpetual futures through its CFTC-regulated exchange, building funds on its xStocks tokenized equities, which passed $1 billion in assets in October, and plans a personal finance AI agent that would need customer approval for each trade or workflow. Kraken AI is already live in its US app.