Robinhood Markets is reportedly in discussions with Crypto.com to bring the digital currency exchange’s prediction markets business onto Robinhood’s platform, according to people familiar with the matter, as the relationship between Robinhood and its current supplier, Kalshi, shifts toward rivalry.
The Wall Street Journal reported that the arrangement being discussed would place Crypto.com’s prediction market offerings within Robinhood’s prediction-markets hub, giving users the ability to place yes-or-no bets supplied by the crypto exchange directly through Robinhood’s trading platform.
No agreement has been finalized, and there is no certainty the two companies will reach one.
Robinhood began offering Kalshi’s event-based contracts in early 2025, giving users access to yes-or-no wagers on everything from the outcome of sporting events to interest-rate moves at the Federal Reserve.
The company’s roster of prediction markets partners also includes Interactive Brokers’ ForecastEx and Rothera, a futures and derivatives exchange operated through Robinhood’s joint venture with Susquehanna International Group.
A Robinhood spokesperson told WSJ 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 stand-alone prediction-markets platform, OG, in February, building on contracts it has offered through its derivatives arm since late 2024.
In late 2025, Crypto.com announced a partnership with President Trump’s media business to bring prediction markets to the Truth Social platform, an offering that has not yet launched.
Rothera launched earlier this summer. Since its debut, Robinhood customers have made up a shrinking share of Kalshi’s trading volumes, according to analysts.
Volume and product expansion at Kalshi
Kalshi has driven much of the growth in prediction markets across the US. The company recorded $27 billion in volume tied to World Cup markets, compared with roughly $1 billion for markets linked to the Super Bowl.
Kalshi has also rolled out perpetual futures, or “perps,” contracts that do not expire and allow traders to apply leverage to their positions. The product has drawn billions of dollars in trading volume for the company.
Kalshi CEO Tarek Mansour told The Wall Street Journal in June that the company intends to broaden its lineup of tradable assets beyond event-based contracts.
He said he considered Robinhood to be a top competitor. “They’re a partner of ours at the same time they’re competing with us, and I think that’s also great,” he said. “We’ll see who ends up with a better product,” said Mansour.