Robinhood Tees Up Crypto.com for Prediction Market Boost
Rainmaker Robinhood is at it again, this time in talks with Crypto.com to expand its prediction markets offering. According to a Wall Street Journal report, Robinhood is exploring plans to integrate yes-or-no event contracts from Crypto.com into its trading app.
This move comes just days after Bernstein analysts raised the price target on Robinhood (HOOD) stock to $160 per share, citing the company's outlook for prediction markets and tokenized equities. They predict that Robinhood's revenue using prediction markets could reach $1.7 billion by 2028.
The integration of Crypto.com's event contracts is aimed at bolstering Robinhood's existing prediction markets hub, which was launched in March 2025 to comply with regulatory requirements from the US Commodity Futures Trading Commission (CFTC). The CFTC has claimed exclusive jurisdiction over the companies' event contracts, while gaming authorities in many states have filed lawsuits attempting to block or restrict their activities.