Robinhood is in talks with Crypto.com to add prediction markets to its trading app

Robinhood is reportedly negotiating with Crypto.com to expand its prediction market offering, a move that would put one more crypto-linked venue inside Robinhood’s prediction hub. For PSPs and platforms watching this space, the detail that matters is simple: prediction markets are starting to look less like a niche product and more like a distribution fight.

1. According to a Friday, July 24 report by The Wall Street Journal, Robinhood is talking with Crypto.com about adding Crypto.com’s prediction market business to Robinhood’s platform. The setup would let users place yes-or-no bets offered by Crypto.com inside Robinhood’s trading app.
2. Robinhood has previously worked with companies such as Kalshi to supply betting contracts for its prediction platform, but the two companies are now more like rivals than partners, the report said. Robinhood told WSJ that it “will continue to partner with multiple exchanges to ensure our customers have access to a diverse and resilient marketplace.”
3. The report said there are no guarantees the two companies will reach an agreement. PYMNTS contacted Robinhood and Crypto.com for comment and had not received a response at the time of publication. A spokesperson for Kalshi declined to comment.
4. Crypto.com launched its stand-alone prediction markets platform, OG, in February, and has offered prediction market contracts through its derivatives business since late 2024. Last year, Crypto.com also announced a collaboration with President Trump’s media business to bring prediction markets to Truth Social, although that has not launched yet.
5. Kalshi remains one of the reference points in the U.S. market. The company said it saw $27 billion in volume for World Cup-related markets, compared with around $1 billion for the Super Bowl. Kalshi CEO Tarek Mansour told WSJ that the company plans to expand beyond event-based contracts and described Robinhood as a top competitor.

The high-risk angle here is not just who wins the user interface. It is that prediction markets are being distributed through platforms that already sit between users, payments, and trading infrastructure, which is exactly where PSPs, acquiring teams, and compliance desks start caring about contract type, venue structure, and partner overlap.