Robinhood in talks with Crypto.com to add yes-or-no markets

Robinhood is in talks with Crypto.com to list binary yes-or-no event contracts on the broker’s prediction markets hub, according to people familiar with the discussions.

The prediction markets hub opened in March 2025. Robinhood initially routed contracts through Kalshi to comply with Commodity Futures Trading Commission rules and later added access to markets run by ForecastEx and Rotella. Under the reported discussions, Crypto.com would supply simple binary outcome contracts tied to real-world events for listing in the app.

Binary outcome contracts pay out based on a yes-or-no result for a stated event. Payouts depend on whether the specified event occurs by a set date.

In April, Bernstein raised its price target on Robinhood shares to $160 from $130, citing the company’s prospects in prediction markets and tokenized equities. Bernstein projected prediction-market revenue could reach $1.7 billion by 2028 and estimated trading volumes in such markets might scale to $1 trillion by 2030. Those figures are analyst forecasts, not company guidance.

Regulatory uncertainty surrounds event contracts in the United States. The Commodity Futures Trading Commission has said it has “exclusive jurisdiction” over certain event contracts. Gaming regulators in several states have filed lawsuits seeking to block or restrict prediction-market activity.

Robinhood’s early use of an approved market operator aimed to address federal regulatory requirements, but state-level legal challenges continue to affect platforms that offer event contracts.

Those familiar with the discussions describe the talks with Crypto.com as ongoing and say no final agreement has been reached. Neither Robinhood nor Crypto.com has publicly confirmed terms.