Robinhood is in discussions with Crypto.com about entering prediction markets, the Wall Street Journal reported. The talks indicate Robinhood is weighing an expansion of its services into a product category where operators across the United States remain locked in legal disputes with state and federal authorities.
What the WSJ reported
The Journal named Crypto.com as Robinhood's counterpart in the discussions. Beyond identifying the two companies and the subject of the talks, the report does not detail deal structure, consideration, or a closing timeline. Discussions, at this stage, remain talks.
Prediction markets and the US legal backdrop
Prediction market companies in the United States are still contesting the legal framework governing their products. The disputes run between state regulators and federal authorities. Robinhood's reported interest in the category arrives while those battles remain unresolved.