Robinhood Eyes Crypto.com Partnership to Expand Prediction Markets

Robinhood Markets (NASDAQ: HOOD) is in talks with Crypto.com to bring the crypto exchange’s event contracts to its platform, according to media reports.

The Wall Street Journal broke the news late Friday (July 24), reporting that the two brokerages are discussing a key product integration. Under the proposed deal, Crypto.com’s prediction markets would feature directly on Robinhood, letting users trade event contracts without opening a separate app.

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.