Robinhood is in talks with Crypto.com about adding the crypto exchange’s yes‑or‑no event contracts to Robinhood’s prediction‑markets hub, The Wall Street Journal reports. People familiar with the discussions cautioned there’s no signed deal yet and talks could still fall apart — but the conversations underline how hot and competitive the event‑trading space has become.
Why it matters
Adding Crypto.com would give Robinhood another supply source for the short‑term binary contracts users buy and sell on its prediction platform. Robinhood has been deliberately building a multi‑exchange pipeline — not relying on a single provider — to keep markets available and costs low for retail traders. A company spokesperson told the WSJ Robinhood “will continue to partner with multiple exchanges” to provide a broad, reliable market.
How Robinhood’s hub has evolved
- Robinhood launched its prediction‑markets hub in March 2025, initially routing contracts through Kalshi, the CFTC‑regulated exchange. The hub covers sports, politics, economics and other public events.
- It later added ForecastEx and began routing contracts through Rothera in June 2026. Rothera is the exchange created through Robinhood’s joint venture with Susquehanna International Group; Robinhood said the new route reduced customer trading costs.
- A Crypto.com integration would sit alongside Kalshi, ForecastEx and Rothera, helping Robinhood maintain product availability when any single exchange lacks a market or faces service issues.
Where Crypto.com fits in
Crypto.com already runs prediction trading via Crypto.com Derivatives North America, a CFTC‑regulated exchange and clearinghouse that offers simple yes‑or‑no contracts. The company also launched OG Prediction Markets as a separate platform in February 2026 and has been expanding distribution through partners. In June, FanDuel Predicts began offering sports, entertainment and combo contracts supplied by Crypto.com and OG Prediction Markets. Crypto.com has also announced a planned integration with Truth Social, although that product reportedly had not launched as of July 24.
Competitive dynamics
Kalshi and Robinhood started as distribution partners but have increasingly become competitors. Kalshi has broadened beyond standard event contracts while Robinhood has deepened its exchange relationships and built Rothera. Kalshi CEO Tarek Mansour has called Robinhood “both a partner and a competitor,” adding, “We’ll see who ends up with a better product.”
Market opportunity and forecasts
Analysts see big upside in event trading. Bernstein recently raised its Robinhood price target to $160 (from $130) and projected Robinhood’s prediction‑market revenue could hit roughly $1.7 billion by 2028. Bernstein also forecast about $586 million in prediction‑market revenue for Robinhood in 2026, driven by World Cup activity and Rothera volumes. More broadly, Bernstein expects total prediction‑market trading volume to rise from about $51 billion in 2025 to $1 trillion by 2030, assuming wider distribution, more institutional participation and clearer rules. Today sports contracts still dominate volume, but analysts expect economic, political and business markets to grow.
Regulatory overhang
The expansion of event trading is unfolding against an unresolved regulatory fight over who governs these contracts. The Commodity Futures Trading Commission (CFTC) insists federal law gives it exclusive authority over commodity derivatives on registered exchanges and in 2026 sued several states after state regulators moved against prediction‑market operators. States have countered that some sports‑related contracts function like gambling and should be subject to local licensing, age and consumer protections — actions that have targeted firms including Crypto.com, Robinhood, Kalshi, Polymarket and Coinbase. The CFTC has sought to block state enforcement to preserve federal oversight. Different courts and regulators have produced uneven rulings so far: New York sued Coinbase and Gemini over alleged violations of state gambling rules, and the CFTC later filed its own case against New York, asserting federal primacy.
Bottom line
A Robinhood‑Crypto.com deal would broaden Robinhood’s supplier network and extend Crypto.com’s reach into another large retail audience, but any arrangement hinges on contract availability, regulatory status and final commercial terms. Robinhood has not confirmed Crypto.com contracts will appear in its app. For now, the talks reflect broader industry competition as exchanges, brokers and crypto platforms jockey for share in a fast‑growing — and legally unsettled — prediction‑markets market.
Read more AI-generated news on: undefined/news
