Robinhood in talks with Crypto.com over prediction markets: WSJ

While prediction market companies in the US continue to face legal battles between state and federal authorities, Robinhood is reportedly considering expanding its services. The company behind the cryptocurrency and stock trading app, Robinhood, is reportedly discussing plans to expand its existing prediction markets offering with crypto exchange Crypto.com.

According to a Friday Wall Street Journal report citing people familiar with the matter, Robinhood was in talks with Crypto.com to place yes-or-no event contracts supplied by the exchange. The trading company launched its prediction markets hub in March 2025, initially facilitated by Kalshi in order to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC), and later using ForecastEx and Rotella.

The reported move came just days after Bernstein analysts raised the firm’s price target on Robinhood (HOOD) stock to $160 from $130 per share, based on the company’s outlook for prediction markets and tokenized equities. They predicted Robinhood’s revenue using prediction markets could reach $1.7 billion by 2028.

While Bernstein said in April that volumes in prediction markets could reach $1 trillion by 2030, many of the platforms face ongoing legal challenges in the United States between state and federal authorities. The CFTC has claimed to have “exclusive jurisdiction” over the companies’ event contracts, while gaming authorities in many states have filed lawsuits attempting to block or restrict their activities.