More prediction market competition could be on its way in the United States. A weekend report published by the Wall Street Journal says that Robinhood and Crypto.com are currently negotiating a potential partnership that would see Crypto.com “yes/no” markets hosted on the Robinhood trading hub.
Although the WSJ report explicitly stated that there’s no guarantee an agreement will be reached, the announcement is in line with current prediction market distribution aggregation trends. Robinhood already publishes contracts from ForecastEx, Kalshi, and Rothera on its prediction hub. This has resulted in the brokerage’s status as the second-most popular prediction market platform in the United States, behind Kalshi.
A Robinhood partnership with Crypto.com would reduce the former’s reliance on Kalshi for third-party event contracts. However, the deal would still require Robinhood to abide by any terms (such as minimum commission fees) that might be included in such an agreement.
Teaming up with Crypto.com would further enhance Robinhood’s status as a prediction market “super hub” that is only eclipsed by Kalshi in terms of US-based notional trading volume. Robinhood initially entered the prediction market space last year, when it joined forces with Kalshi to host sports-based event contracts. To date, the sports contracts offered on the Robinhood prediction hub are geo-restricted in numerous states, while individuals in other jurisdictions can choose to “opt-out” of trading on events linked to sports entirely.
Federally regulated prediction market platforms in the United States now include Robinhood, Kalshi, Underdog, ForecastEx, Crypto.com, Novig, Polymarket US, and Rothera. So far, Polymarket has yet to launch its exchange nationwide, while Novig is expected to go live with its sports contracts by late summer of this year.
All signs point to increased competition for Kalshi, which is currently the clear market leader in notional trading volume. However, other exchanges may soon gain market share on Kalshi as it is forced to geo-restrict its most popular contracts in states that its competitors have already opted out of.
Robinhood CEO Vlad Tenev praised the launch of the company’s own clearinghouse, Rothera, during its Q1-2026 earnings call. The joint Rothera venture between Robinhood and Susquehanna International Group (SIG) provides Tenev’s team with internal leverage in establishing in-house trading fees that rival (or undercut) competitors like Kalshi.
Moreover, the Treasury Department has officially launched the Trump Accounts platform, which incorporates backend mechanics created by Robinhood. The publicly-traded company will hold its Q2-2026 earnings call this Wednesday at its Menlo Park headquarters following a V-shaped stock price rebound since December of last year.
We have yet to hear whether Wednesday afternoon’s earnings call will be outdoors again, but interested parties can tune in to the event live in-app or by following the Robinhood YouTube channel. A social media stream for the second quarter earnings call is also scheduled to take place on the company’s official X account.
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