Robinhood Reportedly in Talks to Add Crypto.com’s Prediction Markets

Robinhood is reportedly in talks with Crypto.com to bring the crypto exchange’s prediction markets business onto its trading platform, a move that would mark a significant shift in a relationship that has increasingly turned competitive with Kalshi, Robinhood’s current prediction markets supplier. The discussions were first reported by The Wall Street Journal, which cited people familiar with the matter.

Under the arrangement being discussed, Crypto.com’s prediction market offerings would sit inside Robinhood’s existing prediction-markets hub, letting users place yes-or-no bets sourced from Crypto.com directly through the brokerage’s app. No agreement has been finalized, and there’s no guarantee the two companies will reach one.

A Fraying Robinhood-Kalshi Partnership

Robinhood began offering Kalshi’s event-based contracts in early 2025, opening the door for its users to trade yes-or-no wagers on everything from sporting outcomes to Federal Reserve interest-rate decisions. That partnership helped fuel explosive growth for prediction markets tied to major sports events, but the dynamic has shifted since Robinhood launched its own exchange, Rothera, through a joint venture with Susquehanna International Group.

Since Rothera’s debut earlier this summer, Robinhood customers have made up a shrinking share of Kalshi’s trading volumes, according to analysts. That’s a notable reversal, given that Robinhood-routed order flow through the Kalshi-Susquehanna joint venture reportedly accounted for roughly 8.8 billion event-contract trades in the first quarter of 2026 alone. A Robinhood spokesperson told the Journal the company “will continue to partner with multiple exchanges to ensure our customers have access to a diverse and resilient marketplace” — language that signals Robinhood has no interest in relying on a single supplier going forward.

Robinhood’s current roster of prediction markets partners also includes Interactive Brokers’ ForecastEx alongside Rothera and Kalshi, underscoring how quickly the company has diversified its exposure to the category.

Crypto.com’s Prediction Markets Push

Crypto.com launched its standalone prediction-markets platform, called OG, in February, building on event-contract offerings it has run through its derivatives arm since late 2024. The company has been aggressive about expanding its footprint in the space — in late 2025, Crypto.com announced a partnership with President Trump’s media business to bring prediction markets to the Truth Social platform, an offering that has yet to launch.

A tie-up with Robinhood would give Crypto.com a much larger distribution channel and a direct line into one of the most active retail trading bases in the country, at a moment when competition among prediction markets operators is intensifying.

Kalshi Still Dominates the Category

Despite the cooling relationship with Robinhood, Kalshi remains the volume leader among prediction markets exchanges. The company recorded $27 billion in trading volume tied to World Cup markets alone, dwarfing the roughly $1 billion in volume it saw around the Super Bowl earlier this year. Kalshi has also introduced perpetual futures contracts, known as “perps,” which don’t expire and let traders apply leverage to their positions — a product that has already pulled in billions of dollars in trading volume.

Kalshi CEO Tarek Mansour told the Journal in June that the company plans to broaden its lineup of tradable assets well beyond traditional event-based contracts, and he didn’t shy away from acknowledging the competitive tension with Robinhood. “They’re a partner of ours at the same time they’re competing with us, and I think that’s also great,” Mansour said. “We’ll see who ends up with a better product.”

Whether or not the Robinhood-Crypto.com talks result in a formal deal, the maneuvering highlights just how quickly the prediction markets landscape is fragmenting, with major platforms racing to diversify their exchange partnerships rather than lean on a single provider.