Crypto.com and Robinhood exploring partnership for event contract markets: WSJ
According to reports, Robinhood has been in negotiations with Crypto.com to integrate binary event contracts from the exchange, building on its prediction markets platform that debuted in 2025.
Robinhood, the firm operating the popular trading application for cryptocurrencies and equities, is said to be in negotiations regarding the expansion of its current prediction markets platform through a partnership with cryptocurrency exchange Crypto.com.
A Friday report from the Wall Street Journal, which referenced sources with knowledge of the discussions, indicated that Robinhood has been engaging in conversations with Crypto.com about integrating binary event contracts provided by the crypto exchange. The financial services company unveiled its prediction markets hub in March 2025, originally powered by Kalshi to ensure adherence to regulatory standards set by the US Commodity Futures Trading Commission (CFTC), before subsequently incorporating ForecastEx and Rotella into its operations.
The purported partnership discussions emerged merely days following Bernstein analysts' decision to increase their price target for Robinhood (HOOD) shares to $160 from the previous $130 per share, driven by the company's prospects in prediction markets and tokenized equity products. The analysts forecasted that Robinhood's revenue streams from prediction markets could climb to $1.7 billion by 2028.
Despite Bernstein's April projection that prediction market volumes could surge to $1 trillion by 2030, numerous platforms operating in this space continue to navigate complex legal battles in the United States involving both state and federal regulatory bodies. The CFTC has asserted its claim to "exclusive jurisdiction" over these companies' event contracts, while state gaming regulators across multiple jurisdictions have initiated legal proceedings seeking to prohibit or limit their operations.