Robinhood CEO Vlad Tenev told CNBC that crypto prediction contract revenues have surpassed sports betting, reaching $156 million in Q2 2026, representing a tenfold increase year-over-year. In August, 4.7 billion contracts were traded on the platform, roughly fifteen times the volume recorded a year earlier. Robinhood is strengthening its position through strategic partnerships with Kalshi, Rothera and Crypto.com, aiming to dominate the prediction markets against CME, Coinbase and decentralized platforms like Polymarket. The U.S. Congress remains skeptical: more than ten bills have been filed since January to regulate these markets, including the PREDICT Act which would prohibit elected officials from betting on events they influence.
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