Robinhood Eyes Crypto.com Partnership to Supercharge Prediction Markets
Robinhood is reportedly in high-level talks with Crypto.com to integrate yes-or-no event contracts into its growing ecosystem. This strategic expansion aims to bolster Robinhood's prediction markets offering, positioning the trading giant at the forefront of the event-based contract industry.
The news follows a bullish update from Bernstein analysts, who raised the price target for Robinhood (HOOD) stock to $160. Driven by the massive potential of prediction markets and tokenized equities, analysts forecast that Robinhood could generate up to $1.7 billion in revenue from these sectors by 2028.
While prediction market companies in the US continue to navigate legal battles between state and federal authorities, Robinhood is reportedly looking to expand its footprint. According to a Wall Street Journal report, the company behind the popular trading app is discussing plans with Crypto.com to supply yes-or-no event contracts.
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