Robinhood Markets (NASDAQ: HOOD) is reportedly exploring a potential collaboration with Crypto.com to incorporate the latter’s event-based contracts into its growing suite of prediction market offerings. According to a recent Wall Street Journal report citing people familiar with the discussions, the brokerage is in talks that could allow its customers to trade Crypto.com’s binary yes-or-no contracts directly through Robinhood’s existing prediction markets interface.
If finalized, the arrangement would expand the range of outcome-based products available to Robinhood’s large retail user base without requiring them to switch platforms.
Conversations between the two firms are still underway, and there is no assurance that a formal agreement will ultimately be reached.
Robinhood has indicated that it intends to maintain relationships with several different exchanges, aiming to provide customers with broader choices and greater market diversity rather than relying on any single partner.
The move comes amid intensifying competition in the rapidly expanding U.S. prediction markets sector.
Robinhood first entered the space in early 2025 by partnering with Kalshi, a CFTC-regulated exchange, to offer contracts tied to sports outcomes, Federal Reserve policy decisions, and other real-world events.
The brokerage later added access through Interactive Brokers’ ForecastEx and Rothera, a futures and derivatives venue established via a joint venture with Susquehanna International Group.
Rothera began operations earlier in the summer of 2026, and market observers have noted a subsequent reduction in the portion of Kalshi’s overall trading volume attributable to Robinhood clients.
This shift underscores how former collaborators are increasingly positioning themselves as direct rivals.
Crypto.com has pursued its own aggressive expansion in the same arena.
The company started providing event contracts through its derivatives arm in late 2024 and introduced a dedicated prediction markets platform known as OG in February 2026.
It has also announced plans for a separate arrangement with Trump Media & Technology Group that would bring prediction markets to the Truth Social platform, though that service has not yet gone live.
Crypto.com operates its prediction market activities through a CFTC-regulated affiliate, Crypto.com Derivatives North America, and has been building infrastructure that could support distribution to other platforms.Kalshi continues to hold a prominent position in the sector.
Its contracts linked to the FIFA World Cup alone generated approximately $27 billion in trading volume, far outpacing volumes for events such as the Super Bowl.
The exchange has further diversified by introducing perpetual futures contracts that have attracted substantial additional activity.
Kalshi’s chief executive has publicly identified Robinhood as one of its primary competitors while outlining plans to expand the types of assets available for trading.
A partnership between Robinhood and Crypto.com would supply the brokerage with an additional source of contracts at a time when the competitive landscape is evolving from simple distribution arrangements toward more integrated platforms and proprietary exchanges.
Industry participants are racing to capture share in a market that has shown strong growth potential, with prediction market activity increasingly rivaling traditional crypto trading volumes for some firms. The outcome of the current talks could further reshape alliances and intensify the contest among key players seeking to serve retail traders interested in event-driven contracts.
