Robinhood Partners With Kalshi to Launch NFL and College Football Prediction Markets

“Unlike sports betting, where the firm sets a line, event contracts leverage the power and rigor of financial market structure and are offered in a marketplace where buyers and sellers interact to set the price,” the blog post said.  With this move Robinhood could be coming after some of the traditional betting platforms, such as DraftKings (DKNG) and Fanduel parent Flutter Entertainment (FLUT).

The launch marks Robinhood’s latest move into prediction markets after previously signaling interest in the space.  In March, the company rolled out a broader “Prediction Markets Hub” available through CFTC-regulated exchange Kalshi, following the popularity of crypto-native platforms like Polymarket, where users bet on outcomes ranging from elections to inflation rates using USDC.

While Polymarket operated in a regulatory gray zone in the U.S., it recently said it is preparing an official return to the U.S. through the acquisition of QCX, a regulated derivatives exchange, following a federal investigation into Polymarket’s operations that was dropped.  However, Robinhood sidestepped those regulatory concerns by partnering with Kalshi, which is an exchange already licensed by the Commodity Futures Trading Commission. That allows Robinhood to tap into sports, politics and macroeconomic event trading without triggering gambling laws. 

Today’s news is likely a step into a broader strategy as Robinhood starts with sports betting, one of the most popular betting avenues. “We currently offer contracts across crypto, economics, financials, sports, culture, and more, with others being added regularly,” the post said. “Ultimately, our goal is to enable anyone, anywhere, to trade, invest or hold any financial asset and conduct any financial transaction through Robinhood.”