Robinhood is reportedly in discussions with Crypto.com to expand its prediction markets offering, potentially involving event contracts supplied by the crypto exchange. This comes as prediction market platforms in the US face ongoing legal challenges.
The potential expansion of Robinhood's prediction markets into new territory with Crypto.com could signal a growing trend in regulated event contracts, while also highlighting the ongoing regulatory uncertainty surrounding these platforms in the U.S.
Robinhood, the company known for its stock and cryptocurrency trading app, is reportedly in discussions with Crypto.com to expand its prediction markets offering. According to a Wall Street Journal report, the companies are exploring the possibility of Crypto.com supplying yes-or-no event contracts for Robinhood's platform.
Robinhood launched its prediction markets hub in March 2025, initially working with Kalshi to comply with U.S. Commodity Futures Trading Commission (CFTC) regulations. The platform has since utilized ForecastEx and Rotella.
This development follows a recent boost for Robinhood's stock, with Bernstein analysts increasing their price target to $160 from $130. The analysts based their optimism on the company's outlook for prediction markets and tokenized equities, projecting that Robinhood's revenue from prediction markets could reach $1.7 billion by 2028. Bernstein had previously estimated that prediction market volumes could reach $1 trillion by 2030.
However, prediction market platforms in the United States are navigating significant legal hurdles. The CFTC asserts exclusive jurisdiction over event contracts, while state gaming authorities have initiated lawsuits to restrict or block their operations.