Robinhood is reportedly in discussions with Crypto.com about adding the exchange’s event contracts to its prediction markets hub, a move that would broaden Robinhood’s exchange network and expand the range of contracts available to users.

The proposed arrangement would allow Robinhood customers to trade yes-or-no contracts supplied by Crypto.com, according to people familiar with the talks cited by The Wall Street Journal. Neither company has announced a deal, and the report said the discussions may not lead to a completed agreement.

Any agreement could deepen Robinhood’s competition with Kalshi while reducing the company’s dependence on a single provider of event contracts. It would also come as federal and state regulators remain divided over who has authority over sports-linked event contracts in the United States.

Robinhood has been working to build a broader network of exchanges instead of relying on one source for prediction market products. A company spokesperson said Robinhood “will continue to partner with multiple exchanges” to provide customers with a broad and reliable market. The strategy could place Crypto.com alongside Kalshi, ForecastEx and Rothera, the exchange created through Robinhood’s venture with Susquehanna International Group.

Robinhood adds prediction market suppliers

Robinhood launched its prediction markets hub in March 2025, initially routing contracts through Kalshi, a Commodity Futures Trading Commission-regulated exchange. The hub offers products tied to outcomes in sports, politics, economics and other public events.

The company later added ForecastEx and began routing contracts through Rothera in June 2026. Rothera gives Robinhood a more direct connection to the exchange layer because Robinhood owns the venture with Susquehanna. Robinhood said in June that the new route reduced trading costs for customers.

Adding Crypto.com would give Robinhood another source of contracts and could help maintain product availability when one exchange does not list a particular market or experiences a service issue. For retail brokers, supplier diversity can also matter because event contracts depend on exchange listings, clearing arrangements and regulatory permissions rather than a single internal product catalog.

Crypto.com expands event contract distribution

Crypto.com already offers prediction trading through Crypto.com Derivatives North America, a CFTC-regulated exchange and clearinghouse. Its contracts follow a simple yes-or-no format based on future events, with prices generally reflecting the market’s assessment of whether a stated outcome will occur.

The company also launched OG Prediction Markets as a separate platform in February 2026 and has expanded distribution through partners. In June, FanDuel Predicts expanded its offering with sports, entertainment and combination contracts supplied through Crypto.com and OG Prediction Markets.

Crypto.com has also announced a planned prediction-market integration with Truth Social. However, The Wall Street Journal reported that the product had not launched as of July 24.

A deal with Robinhood would put Crypto.com’s contracts in front of another large retail trading audience and extend its distribution beyond crypto-native channels.

Kalshi rivalry grows as forecasts rise

Robinhood and Kalshi began as distribution partners, but their businesses now overlap more directly. Kalshi has expanded beyond standard event contracts, while Robinhood has developed Rothera and added more exchange partners.

Kalshi chief executive Tarek Mansour described Robinhood as both a partner and a competitor, saying, “We’ll see who ends up with a better product.”

The reported Crypto.com talks followed Bernstein’s decision to raise its Robinhood share-price target to $160 from $130. The firm estimated that Robinhood’s prediction-market revenue could reach about $1.7 billion by 2028.

As crypto.news previously reported, Bernstein also forecast $586 million in Robinhood prediction-market revenue for 2026, supported by higher World Cup activity and Rothera volumes.

Bernstein expects total prediction-market trading volume to rise from about $51 billion in 2025 to $1 trillion by 2030. The projection assumes broader distribution, increased institutional use and clearer rules. Sports contracts currently account for much of the activity, but analysts expect economic, political and business contracts to represent a larger share over time.

Regulators split over event contracts

Robinhood’s possible expansion comes amid a legal fight over who can regulate event contracts. The CFTC says federal law gives it exclusive authority over commodity derivatives traded on registered exchanges. In 2026, the agency sued several states after officials took action against prediction-market operators.

States argue that some sports-related contracts operate like gambling and should be subject to local licensing, age and consumer-protection rules. Wisconsin’s actions included complaints against Crypto.com and Robinhood, as well as Kalshi, Polymarket and Coinbase. The CFTC responded by seeking to block the state’s enforcement and preserve federal oversight.

The dispute has produced different rulings and restrictions across the country. New York sued Coinbase and Gemini over claims that their event-contract products violated state gambling rules. The CFTC later filed its own case against New York and argued that federal law takes priority.

Any Robinhood-Crypto.com arrangement would still depend on contract availability, regulatory status and final terms between the companies. Robinhood has not confirmed that Crypto.com contracts will appear in its app.

For now, the talks indicate that Robinhood is considering another supplier as exchanges, brokers and crypto platforms compete for a larger share of event trading.