Robinhood Negotiates with Crypto.com for Prediction Market Collaboration

Robinhood is in discussions with Crypto.com regarding a partnership in the prediction market business. If the collaboration is successful, Robinhood is expected to reduce its reliance on Kalshi and enhance its competitiveness in the prediction market. Crypto.com has attracted $400 million in investment from Citadel and is gaining attention in the prediction market and STO sectors. If the negotiations succeed, Crypto.com’s prediction market contracts will be tradable on the Robinhood platform. Currently, Robinhood is collaborating with Kalshi, Interactive Brokers’ ForecastX, and Loterra. A spokesperson for Robinhood stated that they will continue to collaborate with various exchanges to provide customers with diverse market access. Starting in 2024, Crypto.com plans to offer prediction market contracts in the derivatives sector and launched its independent prediction market platform 'OG' in February this year. In 2025, they plan to introduce prediction market services on Truth Social in collaboration with Donald Trump's media company. This partnership could also impact Robinhood's relationship with Kalshi, which recorded a trading volume of approximately $27 billion in World Cup-related prediction markets.

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