Robinhood CEO: Crypto prediction contracts may surpass traditional sports betting within a few years

BlockBeats news, September 22: Robinhood CEO Vlad Tenev said that crypto-related prediction contracts are taking an increasingly large share of Robinhood's prediction markets, and he expects sports contracts may shrink to a minority in the coming years.

In an interview with CNBC's "Mad Money," Tenev said sports contracts were once an important gateway that drove the growth of the prediction market business, but other categories such as crypto are gaining a "disproportionate share." Robinhood's event contract revenue in the second quarter of 2026 grew more than 10-fold year-over-year to $156 million, with contract trades reaching 4.7 billion in August, about 15 times the same period in 2025.

Robinhood currently builds its prediction markets on Kalshi and provides related services through Rothera, a joint venture with Susquehanna, while also having taken stakes in Crypto.com and its prediction market subsidiary OG.com. Tenev said crypto prediction contracts allow users to directly turn their judgments on events such as markets and policy into trades.