Robinhood talks with Crypto.com over prediction markets
Robinhood talks with Crypto.com are underway to expand the broker’s prediction markets offering, according to a Wall Street Journal report. Discussions center on placing yes-or-no event contracts supplied by Crypto.com, as US prediction market platforms face ongoing legal battles between state and federal authorities.
Key Takeaways
- Robinhood is reportedly in talks with Crypto.com to place Crypto.com-supplied yes-or-no event contracts on its prediction markets hub.
- Robinhood launched prediction markets in March 2025, first via Kalshi for CFTC compliance, then ForecastEx and Rotella.
- Bernstein raised its Robinhood (HOOD) price target to $160 from $130 and sees prediction-market revenue reaching $1.7 billion by 2028.
- US prediction markets remain contested: the CFTC claims exclusive jurisdiction, while state gaming authorities have sued to block or restrict activity.
- Bernstein said in April that prediction-market volumes could reach $1 trillion by 2030.
What are Robinhood and Crypto.com discussing?
According to a Friday Wall Street Journal report citing people familiar with the matter, Robinhood has been talking with Crypto.com about expanding its existing prediction markets offering.
The reported plan would let Robinhood place yes-or-no event contracts supplied by Crypto.com. Cointelegraph covered the talks in its report on the WSJ story.
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How does this fit Robinhood’s prediction markets push?
Robinhood, known for crypto and stock trading, opened a prediction markets hub in March 2025. The product was initially facilitated by Kalshi to meet US Commodity Futures Trading Commission (CFTC) requirements, and later used ForecastEx and Rotella.
The Crypto.com talks come as Robinhood looks to grow that hub beyond its current facilitators, per the WSJ reporting.
Why does the US legal fight over prediction markets matter?
The reported outreach comes as prediction market platforms in the United States face ongoing legal clashes between state and federal authorities.
The CFTC has claimed “exclusive jurisdiction” over event contracts. At the same time, gaming authorities in many states have filed lawsuits seeking to block or restrict those activities.
What are analysts saying about Robinhood’s outlook?
The talks were reported just days after Bernstein analysts lifted their price target on Robinhood stock to $160 from $130 per share. They pointed to the firm’s outlook for prediction markets and tokenized equities.
Bernstein estimated Robinhood’s prediction-market revenue could reach $1.7 billion by 2028. The firm also said in April that prediction-market volumes could hit $1 trillion by 2030, even as legal challenges continue for many platforms.