Robinhood in Talks to Add Crypto.com Prediction Markets, Shifting Away from Kalshi

Robinhood Markets is reportedly in discussions with Crypto.com to integrate the exchange’s prediction-market offerings into its own platform, according to sources familiar with the matter. The move comes as Robinhood’s relationship with its current supplier Kalshi increasingly turns competitive.

The proposed arrangement, first reported by The Wall Street Journal, would allow Robinhood users to place yes-or-no wagers powered by Crypto.com directly within Robinhood's prediction-markets hub. However, no final agreement has been reached, and the deal may not materialize.

Robinhood launched event-based contracts from Kalshi in early 2025, enabling bets on outcomes ranging from sports results to Federal Reserve interest-rate decisions. More recently, it added partners such as Interactive Brokers' ForecastEx and Rothera—a futures exchange co-owned via a joint venture with Susquehanna International Group. A Robinhood spokesperson told WSJ that the company “will continue to partner with multiple exchanges to ensure our customers have access to a diverse and resilient marketplace.”

Crypto.com launched its standalone prediction-markets platform, OG, in February, building on contracts it had offered through its derivatives arm since late 2024. In late 2025, Crypto.com also struck a partnership with President Trump’s media company to bring prediction markets to Truth Social—an offering not yet live.

Rothera launched earlier this summer, and analysts note that Robinhood customers now account for a shrinking share of Kalshi’s trading volumes. Kalshi has driven much of the growth in US prediction markets, recording $27 billion in volume from World Cup markets compared with about $1 billion for Super Bowl-linked contracts. The company has also introduced perpetual futures, drawing billions in additional volume.

Kalshi CEO Tarek Mansour told the WSJ in June that the firm plans to broaden its tradable assets beyond event contracts. He acknowledged Robinhood as a top competitor, saying: “They're a partner of ours at the same time they're competing with us … We'll see who ends up with a better product.”