Robinhood is reportedly in talks with Crypto.com to bring the latter’s prediction-market platform directly into its app. No deal is finalized yet. The Wall Street Journal broke the story, and secondary coverage has been running with it since. Robinhood‘s stock dropped roughly 6.57% on the news, which is a strange reaction to what would normally read as a growth story.
The basic idea is pretty straightforward. Crypto.com has its own prediction-markets platform, which it launched in February. If a deal gets done, Robinhood users could trade yes-or-no event contracts through Crypto.com’s system without ever leaving the Robinhood app. That’s the whole pitch. Robinhood becomes the distribution channel. Crypto.com gets access to tens of millions of retail investors it probably couldn’t reach on its own.
Robinhood already has prediction-market partners — Kalshi, ForecastEx, and Rothera are reportedly in the mix. Adding Crypto.com would just expand the contract lineup further. More suppliers, more contracts, more trading activity. The strategy seems pretty obvious: own the prediction-market shelf space, let multiple providers compete for placement on it. Kalshi probably isn’t thrilled about this.
Robinhood is building a prediction-market shelf. More suppliers, more contracts — and Kalshi probably isn’t thrilled about it.
The market opportunity here is not small. Bernstein estimates Robinhood could pull in $1.7 billion in prediction-market revenue by 2028. Industry-wide volumes could hit $1 trillion by 2030. Those are big numbers, and they explain why everyone is moving fast. The sector is being described as a race, which is accurate. Platforms that lock in distribution early will likely have a real edge.
For Crypto.com, the upside is obvious. Getting embedded inside Robinhood’s app is worth more than running a standalone platform that most retail investors will never find. Consumer reach is everything in this space, and Robinhood has it. Crypto.com operates its prediction-markets business through Crypto.com Derivatives North America, which is regulated by the U.S. Commodity Futures Trading Commission.
For Robinhood, the move fits a clear pattern. Scale the prediction-market business by stacking supply sources, reduce dependence on any single partner, and capture more user engagement along the way. Robinhood’s initial prediction markets hub launched in March 2025, meaning this expansion would build directly on infrastructure the company has already put in place. Simple enough.
That said, regulation is still the elephant in the room. Federal and state authorities haven’t exactly rolled out the welcome mat for prediction markets, and that uncertainty hasn’t gone away. The growth projections assume a regulatory environment that remains friendly, or at least tolerant. That’s not guaranteed. Investors entering this space should also be aware that extreme price volatility in underlying crypto assets can compound risk exposure beyond what prediction-market contracts alone might suggest.
Nothing is done yet. These are talks, not a signed agreement. But the direction Robinhood is moving in is pretty clear at this point.
