Robinhood enters sports prediction markets with NFL and college football contracts

Robinhood is entering the sports prediction space with new contracts tied to NFL and college football outcomes, a move that positions the online broker against traditional sports betting operators such as DraftKings and FanDuel while operating on a federally regulated exchange.

The contracts will be available through Robinhood’s Prediction Markets Hub in partnership with Kalshi, which is licensed by the Commodity Futures Trading Commission (CFTC). Customers can trade on outcomes of all NFL regular-season matchups and games involving college Power Four schools and independents.

Robinhood said the football markets are rolling out “in the coming days,” beginning with the first two weeks of the regular seasons and then expanding to weekly matchups. Trading will be open daily from 8 am to 3 am ET.

Event contracts as commodities

The collaboration with Kalshi allows Robinhood to offer contracts structured as commodities rather than wagers, differentiating them from traditional sportsbook models. “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,” Kalshi said in a blog post.

JB Mackenzie, Robinhood Vice President of Futures and International, said: “Adding pro and college football to our prediction markets hub is a no-brainer for us as we aim to make Robinhood a one-stop shop for all your investing and trading needs.”

Company strategy and market activity

Robinhood introduced its Prediction Markets Hub in March through its partnership with Kalshi. Existing contracts already cover categories such as crypto, economics, financials, and cultural events, with new offerings added regularly.

The company reported that more than two billion contracts have been traded on its prediction markets since their introduction late last year. During its second-quarter earnings call, Chief Financial Officer Jason Warnick said sports-related contracts were driving strong engagement, while CEO Vlad Tenev described the area as “a big opportunity.”

Robinhood shares have risen more than 400% over the past year.