Robinhood, which has traded 16B event contracts in 2026, is negotiating to add Crypto.com's prediction markets to its aggregation platform. Deal uncertain.
Robinhood is negotiating a deal to bring Crypto.com's prediction market contracts into its trading app, the Wall Street Journal reported Friday, citing people familiar with the matter. The agreement would let Robinhood's users trade binary event contracts from Crypto.com's OG platform directly inside the brokerage's interface. People cautioned that the talks could still fall apart.
Robinhood already aggregates prediction contracts from multiple providers. Its current roster includes Kalshi and ForecastEx. Rothera, a CFTC-registered derivatives exchange and clearinghouse that received an investment from Robinhood and Susquehanna International Group in 2025, is also part of the lineup. Adding Crypto.com would give Robinhood a fourth supplier and a second that operates its own regulated exchange infrastructure.
Company figures show Robinhood has executed more than 16 billion event contracts through 2026 so far, up from 12 billion in all of last year. Kalshi remains the largest US-regulated prediction market operator. Its World Cup contracts alone generated roughly $27 billion in trading volume. Kalshi CEO Tarek Mansour told the Journal in June that Robinhood now represents its biggest competitive threat, even as Kalshi continues to supply contracts to the platform. Robinhood users have made up a declining share of Kalshi's volume since Rothera entered the market, the Journal reported.
Crypto.com launched OG in February 2026. The platform operates through Crypto.com Derivatives North America, which holds CFTC registration as both an exchange and a clearinghouse. Weekly user engagement expanded roughly 40-fold in the six months before launch, the company said. Crypto.com also provides white-label prediction market infrastructure to external brands, including sports retailer Fanatics. A previously announced integration with Trump Media's Truth Social has not yet materialized.
Bernstein analysts last month raised their Robinhood price target to $160 from $130, citing optimism around prediction markets and tokenized securities. They forecast prediction market revenue could reach $1.7 billion by 2028.
Competition in the sector is heating up. Cboe Global Markets introduced binary options tied to the S&P 500, which Charles Schwab plans to distribute to its clients. Cboe holds an AlphaScala Alpha Score of 64, labeled Moderate. Coinbase and DraftKings have pursued their own regulated exchange infrastructure for event contracts.
The regulatory environment remains unsettled. The CFTC claims exclusive authority over event-based contracts, while some state gaming regulators have challenged that authority in court.
A Robinhood spokesperson told the Journal the company intends to work with multiple exchanges to give customers broad access. The outcome of the Crypto.com talks will determine whether that list expands further.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.