Robinhood eyes Crypto.com for prediction markets expansion 🎯

Robinhood is in discussions with Crypto.com to expand its prediction markets product with yes-or-no event contracts supplied by the cryptocurrency exchange, according to a Friday Wall Street Journal report citing people familiar with the matter.

The trading app launched its prediction markets hub in March 2025, initially using Kalshi to meet US Commodity Futures Trading Commission (CFTC) requirements, and later integrating ForecastEx and Rotella. The reported Crypto.com talks would add a crypto-native venue to that lineup.

The development follows Bernstein analysts raising their price target on Robinhood (HOOD) stock to $160 from $130 per share, citing the company's outlook for prediction markets and tokenized equities. The firm projected Robinhood's prediction markets revenue could reach $1.7 billion by 2028. Bernstein said in April that prediction markets volumes could reach $1 trillion by 2030.

The sector continues to face legal challenges in the United States, where state and federal authorities have clashed over regulatory authority. The CFTC has claimed "exclusive jurisdiction" over event contracts, while gaming regulators in multiple states have filed lawsuits seeking to block or restrict the platforms.

Robinhood and Crypto.com have not publicly confirmed the terms or status of the discussions.