Robinhood eyes Crypto.com deal as prediction market race heats up

Robinhood is reportedly holding talks with Crypto.com about adding the exchange’s event contracts to its prediction markets hub. Summary Robinhood reportedly wants Crypto.com contracts to broaden its prediction market exchange network and product range. Any agreement could deepen Robinhood’s competition with Kalshi while reducing reliance on a single provider. Federal and state regulators remain divided over who controls sports-linked event contracts across the U.S. The proposed arrangement would let Robinhood users trade yes-or-no contracts supplied by Crypto.com, according to people familiar with the discussions cited by The Wall Street Journal. Neither company has announced an agreement, and the report said the talks may not result in a completed deal. https://x.com/WSJmarkets/status/2080785057954902434?s=20 The discussions come as Robinhood builds a wider network of exchanges rather than relying on one source of event contracts. A company spokesperson said Robinhood “will continue to partner with multiple exchanges” to give customers a broad and reliable market. The strategy could add Crypto.com alongside Kalshi, ForecastEx and Rothera, the exchange created through Robinhood’s ...