Robinhood introduced its Combos feature and player-specific markets for sports event contracts. Chief executive Vlad Tenev said prediction markets were at the start of a “super cycle” and would “change the world for the better”.
The new features add combination and player-specific sports event contracts to Robinhood's offering.
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Robinhood announced plans to offer Cboe Global Markets event contracts tied to corporate earnings and performance indicators. Cboe said the contracts could launch in October, subject to regulatory approval; both companies are waiving fees through year-end.
DraftKings chief executive Jason Robins said the company could benefit whether sports prediction markets remain available or are restricted, while it monitors related legal challenges. He said sportsbook handle rose about 15% year over year in the first two weeks of the NFL season, and the company may bring forward some customer-acquisition and marketing spending planned for 2027, depending on trading and customer data.
CNBC’s Morning Squawk newsletter reported growing interest in Polymarket and Kalshi as football and the US election cycle gather pace. CNBC linked the attention to football’s return and the approaching November election, and also mentioned Robinhood.
Reportedly, Novig unveiled a campaign featuring Sydney Sweeney. EGR also covered prediction market developments involving Coinbase and Robinhood.
Robinhood said it will send some of its football prediction contracts to OG.com’s derivatives exchange and clearinghouse, with the first contracts expected before the new US professional football season. The partnership gives Robinhood equity stakes in Crypto.com and OG.com; the companies were valued at $20bn and $5bn respectively, the report said.