Robinhood Eyes Crypto.com Partnership to Expand Prediction Markets Offering

Key Highlights

• Robinhood is negotiating with Crypto.com to integrate event contracts into its prediction markets platform
• The partnership would enable users to access Crypto.com’s yes-or-no contracts directly through Robinhood’s interface
• Robinhood’s prediction markets currently aggregate contracts from Kalshi, ForecastEx, and affiliated platform Rothera
• Bernstein raised its Robinhood price target to $160, projecting prediction market revenue at $1.7 billion by 2028
• Crypto.com debuted its OG prediction market platform in February 2026

Robinhood is pursuing negotiations with Crypto.com to incorporate the digital asset exchange’s prediction market offerings into its trading application, according to a Friday report from The Wall Street Journal citing informed sources.

Under the proposed agreement, Robinhood’s user base would gain access to binary event contracts from Crypto.com’s prediction markets division directly within the Robinhood ecosystem. Sources cautioned that finalizing the deal remains uncertain.

Multi-Exchange Aggregation Strategy Takes Shape

Robinhood introduced its prediction markets aggregation platform in March 2025, partnering initially with Kalshi to comply with US Commodity Futures Trading Commission regulations. The platform subsequently incorporated ForecastEx and Rothera as additional contract providers.

Rothera operates as a CFTC-licensed derivatives exchange and clearinghouse, with Robinhood participating in its 2025 funding round alongside Susquehanna International Group. Bringing Crypto.com into the fold would demonstrate a diversified strategy — leveraging proprietary infrastructure through Rothera while simultaneously aggregating third-party platforms to expand market selection.

A Robinhood spokesperson informed the Journal that the company intends to maintain partnerships with various exchanges to provide customers with comprehensive market access.

According to company figures, over 16 billion event contracts have been executed on Robinhood’s platform through 2026 to date, representing a significant increase from the 12 billion contracts traded throughout the previous year.

Competitive Dynamics Shift for Kalshi

Kalshi maintains a dominant position among US-regulated prediction market operators. The platform’s World Cup-related contracts alone recorded approximately $27 billion in trading activity.

However, Kalshi CEO Tarek Mansour acknowledged to the Journal in June that Robinhood now represents a primary competitive threat — despite Kalshi’s ongoing role as a contract supplier to the brokerage platform.

Market observers indicate that Robinhood users have constituted a declining portion of Kalshi’s overall trading volume following Rothera’s market entry.

Crypto.com unveiled OG, its prediction market offering, in February 2026. The platform operates through Crypto.com Derivatives North America, which holds CFTC registration as both an exchange and clearinghouse. According to company disclosures, weekly user engagement expanded approximately 40-fold during the six-month period preceding the official launch.

Beyond its proprietary platform, Crypto.com has provided white-label prediction market infrastructure to external brands, including sports retailer Fanatics. A previously announced integration with Trump Media’s Truth Social platform has not yet materialized.

Bernstein equity analysts upgraded Robinhood’s price target last month to $160 per share from a previous $130 estimate. The revision reflects optimistic projections for the company’s prediction markets and tokenized securities businesses, with forecasts indicating prediction market revenues could climb to $1.7 billion by 2028.

Competition throughout the prediction markets sector continues intensifying. Cboe Global Markets introduced binary options linked to S&P 500 performance, which Charles Schwab intends to distribute to its client base. Meanwhile, Coinbase and DraftKings have pursued their own regulated exchange infrastructure.

The prediction markets industry navigates ongoing regulatory ambiguity in the United States, where the CFTC asserts exclusive regulatory authority over event-based contracts while certain state gaming regulators have initiated legal challenges to limit these trading activities.

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