Robinhood may add Crypto.com contracts, expanding choices across sports, politics, economics, and crypto. Robinhood already uses Kalshi, ForecastEx, and Rothera, reducing dependence on any si
Robinhood Markets is exploring an agreement that could place Crypto.com event contracts inside its app, expanding its fast-growing prediction-market business. However, the preliminary discussions, first reported by The Wall Street Journal, have not produced a deal, and either company could still walk away.
Robinhood Markets is in talks with digital-currency exchange https://t.co/gpjdwwlccr to expand the brokerage firm’s foothold in prediction markets, according to people familiar with the matter. https://t.co/CC8eJpFzTV
— WSJ Markets (@WSJmarkets) July 24, 2026
Under the proposed arrangement, customers could trade yes-or-no contracts without leaving Robinhood’s platform. Each contract usually settles at $1 when the predicted outcome occurs. As a result, its market price generally reflects participants’ estimated probability of that event taking place.
Robinhood already distributes contracts supplied by Kalshi, Interactive Brokers’ ForecastEx, and Rothera, its joint venture with Susquehanna International Group. In January, Rothera acquired a CFTC-licensed exchange and clearinghouse, giving Robinhood greater control over product development, distribution, liquidity, and contract access.
That broader exchange structure has become increasingly important as customer activity continues to rise. In November, the brokerage identified prediction markets as its fastest-growing product by revenue, highlighting the category’s growing importance to its business.
According to the firm’s report, more than 1 million customers traded 9 billion contracts during the product’s first year. Momentum also remained strong in 2026, as management later said April activity was approaching 3 billion contracts.
Adding Crypto.com would further expand Robinhood’s available contract pool across sports, politics, economics, entertainment, and cryptocurrency events. At the same time, the move would reduce the brokerage’s reliance on any single exchange provider.
Kalshi would face the most immediate impact, as it already supplies contracts through Robinhood. Meanwhile, the brokerage has increasingly directed customer activity toward Rothera, strengthening its internal distribution strategy.
Crypto.com has also been building its position in the sector. The company entered the market through its standalone OG platform in February, which operates through Crypto.com Derivatives North America.
That entity functions as a CFTC-registered exchange and clearinghouse. At OG’s launch, Crypto.com said weekly activity had expanded fortyfold over the previous six months.
The company has since continued widening its reach through external partnerships. In June, FanDuel Predicts expanded its contract offering using OG and Crypto.com’s regulated infrastructure, reinforcing the company’s broader distribution strategy.
A Robinhood integration would provide Crypto.com with another major retail distribution channel. Moreover, it would place its contracts alongside products from established exchanges and brokerage-backed platforms.
Even so, Kalshi retains considerable scale within the sector. Per reports, the company processed about $27 billion in volume and attracted roughly 3 million users during the 2026 FIFA World Cup.
Both figures were approximately twice Kalshi’s original expectations. Consequently, the results demonstrate how event contracts have developed from a niche offering into a significant retail market.
However, rapid expansion has also increased regulatory and surveillance pressure. Kalshi is challenging state regulators that classify sports event contracts as gambling products rather than federally regulated derivatives.
The industry maintains that such contracts fall under CFTC authority. Nevertheless, Washington recently obtained a court order preventing Kalshi from operating within the state.
Alongside those legal disputes, trading oversight has become increasingly demanding. Reuters reported that Kalshi flagged more than 400 suspicious trades during 2026.
That figure was more than double the number investigated throughout 2025. In response, platforms have tightened restrictions against activity linked to confidential or nonpublic information.
For Robinhood, however, the potential agreement would represent another step toward a more diversified exchange model. At the same time, it would deepen the brokerage’s exposure to regulatory, liquidity, surveillance, and contract-quality risks.
Ultimately, the competition extends beyond offering a larger number of events, as several platforms are pursuing the same retail audience. Market leadership will depend on scale, reliable pricing, legal durability, liquidity, effective surveillance, contract quality, and sustained customer trust.
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