Key Takeaways
- • Robinhood Markets is in active negotiations with Crypto.com to integrate the cryptocurrency exchange's yes-or-no event contracts into Robinhood's prediction-markets platform, according to exclusive reporting by The Wall Street Journal.
- • The partnership would expand Robinhood's competitive position in prediction markets by diversifying its contract offerings beyond current partners Kalshi, Interactive Brokers' ForecastEx, and Rothera, a joint venture with Susquehanna International Group.
- • Crypto.com has aggressively expanded its prediction-markets footprint since launching event contracts in late 2024 and deploying its standalone OG platform in February 2026, positioning itself as a meaningful competitor to established players.
- • Kalshi maintains market leadership with significantly higher trading volumes—its World Cup contracts generated $27 billion in volume compared to approximately $1 billion for Super Bowl-related markets—but faces erosion of Robinhood-sourced trading volume as the brokerage diversifies partnerships.
- • The proposed deal reflects intensifying competition in the U.S. prediction-markets sector, with multiple platforms competing for retail participation through sports events, financial outcomes, and political events.
Summary
Robinhood Markets is pursuing discussions with Crypto.com to add the digital-currency exchange's event contracts to its existing prediction-markets hub, marking the latest strategic move in an increasingly competitive sector. The Wall Street Journal exclusively reported the ongoing negotiations, which would allow Robinhood users to trade Crypto.com's yes-or-no contracts directly through the brokerage platform. However, both companies have indicated that discussions remain preliminary and no final agreement has been reached.
Robinhood's entry into prediction markets began in early 2025 through a partnership with Kalshi, offering contracts on sporting events and Federal Reserve interest-rate decisions. Since then, the brokerage has deliberately expanded its partner ecosystem to reduce reliance on any single exchange. The company now works with Interactive Brokers' ForecastEx and Rothera, a derivatives exchange launched this summer through a joint venture with Susquehanna International Group. Robinhood has explicitly stated its intention to continue working with multiple exchanges to provide customers with a more diverse marketplace.
Crypto.com's aggressive expansion into prediction markets has accelerated market fragmentation. The company began offering event contracts through its derivatives business in late 2024 and launched OG, a dedicated prediction-markets platform, in February 2026. Additionally, Crypto.com announced a partnership with Trump Media & Technology Group in late 2025 that would introduce prediction markets to Truth Social, though that service has not yet launched.
The market dynamics reveal clear competitive stratification. Kalshi remains the dominant player, as evidenced by its World Cup contracts generating $27 billion in trading volume compared with approximately $1 billion for Super Bowl-related markets. Analysis has documented a measurable decline in Kalshi's share of trading volumes from Robinhood customers, illustrating how the former partners have begun competing directly across the prediction-markets landscape.
The proposed Robinhood-Crypto.com partnership underscores the structural shift occurring in prediction markets: retail-facing platforms are consolidating access to multiple contract exchanges to enhance user choice while reducing dependency on individual venues. Success of these negotiations would further fragment Kalshi's once-dominant distribution channel and reinforce Crypto.com's emergence as a systemic player in U.S. event-contract trading.
Robinhood's entry into prediction markets began in early 2025 through a partnership with Kalshi, offering contracts on sporting events and Federal Reserve interest-rate decisions. Since then, the brokerage has deliberately expanded its partner ecosystem to reduce reliance on any single exchange. The company now works with Interactive Brokers' ForecastEx and Rothera, a derivatives exchange launched this summer through a joint venture with Susquehanna International Group. Robinhood has explicitly stated its intention to continue working with multiple exchanges to provide customers with a more diverse marketplace.
Crypto.com's aggressive expansion into prediction markets has accelerated market fragmentation. The company began offering event contracts through its derivatives business in late 2024 and launched OG, a dedicated prediction-markets platform, in February 2026. Additionally, Crypto.com announced a partnership with Trump Media & Technology Group in late 2025 that would introduce prediction markets to Truth Social, though that service has not yet launched.
The market dynamics reveal clear competitive stratification. Kalshi remains the dominant player, as evidenced by its World Cup contracts generating $27 billion in trading volume compared with approximately $1 billion for Super Bowl-related markets. Analysis has documented a measurable decline in Kalshi's share of trading volumes from Robinhood customers, illustrating how the former partners have begun competing directly across the prediction-markets landscape.
The proposed Robinhood-Crypto.com partnership underscores the structural shift occurring in prediction markets: retail-facing platforms are consolidating access to multiple contract exchanges to enhance user choice while reducing dependency on individual venues. Success of these negotiations would further fragment Kalshi's once-dominant distribution channel and reinforce Crypto.com's emergence as a systemic player in U.S. event-contract trading.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.