Key Takeaways
- Robinhood is negotiating with Crypto.com to integrate event contracts into its prediction markets platform
- If finalized, the partnership would enable users to access Crypto.com’s yes-or-no contracts directly through Robinhood’s interface
- The trading platform already aggregates contracts from Kalshi, ForecastEx, and affiliated exchange Rothera
- Bernstein research upgraded Robinhood’s price target to $160, projecting prediction market revenues may reach $1.7 billion by 2028
- Crypto.com debuted its independent prediction market platform, OG, in February 2026
According to a Friday report from The Wall Street Journal, Robinhood is engaged in negotiations with Crypto.com to incorporate the cryptocurrency platform’s prediction market contracts into its trading application, based on information from sources with direct knowledge of the discussions.
Should the partnership materialize, it would enable Robinhood’s user base to participate in binary event contracts offered through Crypto.com’s prediction markets division without navigating away from the Robinhood ecosystem. Sources emphasized that an agreement remains uncertain at this stage, according to the Journal’s reporting.
Multi-Exchange Approach Takes Shape
Robinhood debuted its prediction markets platform in March 2025, beginning with Kalshi as its primary partner to satisfy US Commodity Futures Trading Commission compliance standards. The brokerage subsequently incorporated ForecastEx and Rothera into its network of contract providers.
Rothera operates as a CFTC-authorized exchange and clearinghouse in which Robinhood acquired a stake alongside Susquehanna International Group during 2025. Integrating Crypto.com would signal a diversified strategy — leveraging its affiliated exchange for certain contracts while incorporating external platforms to expand market coverage.
In comments to the Journal, Robinhood confirmed its commitment to maintaining relationships with multiple exchanges to ensure customers access comprehensive marketplace options.
According to company data, over 16 billion event contracts have changed hands on its platform during 2026 to date, representing substantial growth from the 12 billion contracts traded throughout the previous year.
Competitive Dynamics Intensify for Kalshi
Kalshi maintains its position among the dominant players in America’s prediction markets ecosystem. The platform’s World Cup-related contracts alone produced approximately $27 billion in transaction volume.
However, Kalshi chief executive Tarek Mansour acknowledged to the Journal in June that he regards Robinhood as a primary competitive threat — despite Kalshi’s ongoing role as a contract supplier to the brokerage firm.
Market observers note that Robinhood users have constituted a declining percentage of Kalshi’s overall trading activity following Rothera’s market entry.
Crypto.com unveiled its OG prediction market platform in February 2026. The service operates through Crypto.com Derivatives North America, which holds CFTC registration as both an exchange and clearinghouse. Company representatives reported that weekly engagement metrics had expanded approximately 40 times during the six-month period preceding the public launch.
Beyond its proprietary platform, Crypto.com has provided white-label infrastructure for prediction market services to external brands including Fanatics. A previously announced integration with Trump Media’s Truth Social platform has yet to go live.
Investment firm Bernstein elevated its Robinhood price target to $160 per share last month, climbing from a previous $130 estimate. Analysts highlighted the company’s positioning in prediction markets and tokenized securities, projecting that prediction market revenues alone could generate $1.7 billion annually by 2028.
Competition within the prediction markets sector continues to accelerate. Cboe Global Markets has introduced binary options products linked to the S&P 500 index, which Charles Schwab intends to make available to its client base. Meanwhile, Coinbase and DraftKings have taken steps to establish their own regulated prediction market capabilities.
The regulatory landscape for prediction markets in the United States remains unsettled, with the CFTC asserting sole authority over event-based contracts while certain state gaming regulators have initiated legal proceedings challenging industry operations.
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