Crypto.com, Robinhood Reportedly in Prediction Market Talks

Crypto.com and Robinhood Markets (NASDAQ: HOOD) are reportedly in talks on a prediction market partnership that would broaden the latter’s suite of event contracts.

The Wall Street Journal broke the news late Friday, reporting that the two brokerage houses are discussing a deal in which prediction markets offered by Crypto.com would be featured on Robinhood, meaning that the latter’s clients could access Crypto.com event contracts without having to access another app or trading account.

The report surfaces as Robinhood is increasingly cementing its status as a rising player on the prediction market stage. Earlier this week, Bernstein estimated the broker’s event contracts business is on pace to surpass cryptocurrency in revenue terms for the company and that prediction markets could generate $1.7 billion in revenue for the financial services firm by 2028.

California-based Robinhood has consistently noted that prediction markets are one of its fastest-growing segments in company history and some analysts believe that as recently as the second quarter, yes/no derivatives became Robinhood’s most rapidly growing segment.

Robinhood Familiar with Prediction Market Partnerships

It remains to be seen if Crypto.com and Robinhood confirm they’re working together, but both companies are familiar with the prediction market partnership model.

In the case of Robinhood, the company teams with ForecastEx and Rotella, a unit of Interactive Brokers, among others, to bring all-or-nothing derivatives to its clients. The Rothera business, a separate entity in which Robinhood holds a stake, is essentially a partnership with market maker Susquehanna International Group.

A potential Crypto.com/Robinhood partnership is viewed as disruptive to the young prediction market industry just two companies currently control the bulk of market share, but by some estimates, Robinhood is a major driver of volume to one of those firms.

Prior to the Crypto.com/Robinhood rumor coming to light, analysts were already discussing prediction markets’ rapidly evolving competitive landscape, speculating that the arena could eventually accommodate as many as 10 viable competitors, including Crypto.com and Robinhood.

Deal with Robinhood Would Be a Win for Crypto.com

In U.S. prediction market terms, Crypto.com is “old school,” having entered the space in late 2024 and rapidly expanding its event contract menu in advance of the 2025 Super Bowl. However, the company is still further down the market share ladder than some competitors.

A deal with Robinhood could change that. The financial technology (fintech) company has north of 27 million funded accounts and more than one million of those accountholders are trading event contracts, indicating Robinhood has the potential to significantly lift Crypto.com’s event contract turnover if the two sides hammer out a deal.

Crypto.com, which unveiled its standalone prediction market known as “OG” earlier this year, has event contracts with other companies, including sports betting giant FanDuel.