Robinhood is understood to be in discussions with digital-currency exchange Crypto.com to broaden the brokerage's presence in prediction markets, according to people familiar with the matter. The talks mark a shift in a relationship that began as a partnership between Robinhood and its existing supplier, Kalshi, but is increasingly becoming direct competition as both firms move into each other's core business areas.
Under the arrangement being discussed, Crypto.com's prediction-market business would be added to Robinhood's prediction-markets hub, giving users access to yes-or-no contracts offered by the crypto exchange directly through Robinhood's trading platform.
Robinhood began offering Kalshi's event-based contracts in early 2025, enabling customers to place bets on outcomes ranging from sporting events to US Federal Reserve interest-rate decisions. In addition to Kalshi, Robinhood's current prediction-markets partners include Interactive Brokers' ForecastEx and Rothera, a futures and derivatives exchange operated through Robinhood's joint venture with Susquehanna International Group.
No agreement between Robinhood and Crypto.com has been finalised, and there is no certainty a deal will be reached. A Robinhood spokesperson said the company intends to continue working with multiple exchanges to provide customers with a varied marketplace.
Market context
Crypto.com launched its standalone prediction-markets platform, OG, in February 2026, having offered similar contracts through its derivatives arm since late 2024. In late 2025, Crypto.com also announced a partnership with a media business linked to US President Donald Trump to bring prediction markets to the social media platform Truth Social; that offering has not yet gone live.
Rothera launched earlier in the summer of 2026. Since then, the share of Kalshi's trading volumes attributable to Robinhood customers has declined, according to analysts.
Kalshi has been at the centre of growing interest in prediction markets in the US. The exchange recorded USD 27 billion in trading volumes tied to World Cup-related markets, compared with approximately USD 1 billion in volumes linked to Super Bowl markets. Kalshi has also introduced perpetual futures contracts, known as perps, which do not expire and allow traders to apply leverage to positions; these have generated billions of dollars in trading volumes for the company.
Competitive positioning
Kalshi plans to expand its range of tradable products beyond event-based contracts. The company describes Robinhood as both a partner and a competitor, noting that the two companies' overlapping roles reflect the evolving structure of the prediction-markets sector, and that the market would ultimately determine which platform offers the stronger product.
The discussions between Robinhood and Crypto.com illustrate the broader consolidation and overlap taking place among brokerages, crypto exchanges, and dedicated prediction-market operators as the sector expands beyond its original niche of political and sports-related contracts into broader financial and event-driven products.
