Robinhood and Crypto.com Discuss Prediction Market Partnership Amid Regulatory Battles

Robinhood is reportedly in early discussions with Crypto.com about adding the exchange’s yes-or-no event contracts to its prediction markets platform, according to a Wall Street Journal report citing sources familiar with the matter.

Robinhood’s Prediction Markets Expansion

The trading app first rolled out its prediction markets hub in March 2025, relying on Kalshi to meet Commodity Futures Trading Commission requirements before adding ForecastEx and Rotella as contract suppliers. A partnership with Crypto.com would mark another addition to that lineup.

Bernstein Raises Price Target on Growth Outlook

The talks surfaced days after Bernstein analysts lifted their price target on Robinhood shares to $160 from $130, pointing to tokenized equities and prediction markets as growth drivers. The firm estimates Robinhood’s prediction markets revenue could hit $1.7 billion by 2028, with industry wide volumes reaching $1 trillion by 2030.

Legal Challenges Persist

Prediction market operators continue facing disputes between the CFTC, which claims exclusive jurisdiction over event contracts, and state gaming regulators pursuing restrictions, including a recent Michigan court ruling against Kalshi’s sports-related offerings.