Following the establishment of prediction markets related to the 2024 U.S. presidential election, Robinhood is expanding its horizons into sports trading, offering combinations for NFL games and player performance contracts.
The brokerage announced that users can now engage in trading predefined outcomes, totals, and spreads related to individual NFL matches. From early 2026, Robinhood intends to enable users to create custom combinations, linking up to 10 different outcomes across NFL games.
These personalized products will resemble a parlay, as stated by JB Mackenzie, Vice President and General Manager of Futures and International at Robinhood, in an interview with CNBC.
In addition to game-based combinations, Robinhood has launched real-time trading connected to individual player performance in the NFL. Users can place contracts on events such as a player scoring a touchdown or reaching specified yardage in passing, receiving, or rushing during a game.
“This presents a remarkable opportunity for us to assert our leadership in this sector, and that is our objective,” Mackenzie remarked. “The latest enhancements exemplify our commitment to developing new customer experiences that simplify and, in certain scenarios, provide more sophisticated order types and trading options in response to user demand.”
The initiatives were unveiled during the company’s keynote event, “Robinhood Presents: YES/NO”, at Summit Skywalker Ranch in Nicasio, California.
Robinhood ventured into prediction markets just before the 2024 presidential election, allowing users to trade contracts related to figures like Kamala Harris and Donald Trump. Since then, the company has broadened its scope through partnerships with ForecastEx and Kalshi, a prediction market operator. In November, Robinhood disclosed a partnership with Susquehanna International Group.
According to company reports, combination trading might eventually extend beyond sports. Robinhood is looking into creating products that connect outcomes across various arenas, including economic metrics and public policy developments.
“In the long term, the inquiry will be, ‘Is there interest in combining assets from diverse categories?’” Mackenzie noted, referencing applications tied to politics, climate, economic data, and policy events.
Prediction markets have reportedly generated $100 million in annual revenue, with over 11 billion contracts traded by more than a million users. Recent estimates indicate the business is on track to accrue $300 million in revenue.
In November alone, more than 3 billion contracts were traded, exceeding October’s count of 2.5 billion by approximately 20%. Furthermore, October’s total surpassed that of the third quarter, which had seen 2.3 billion contracts traded.
“I genuinely believe we are merely at the start of what this sector can evolve into,” Mackenzie stated.
Mizuho analyst Dan Dolev indicated that Robinhood and Coinbase users are nearly nine times more likely to participate in prediction markets than non-users, based on a recent survey.
“They are targeting a user demographic already inclined towards engaging with prediction markets,” Dolev added. “Over time, they are poised to morph into a central hub for prediction markets.”
Robinhood reported a total of $193 billion in assets under custody for the complete year of 2024, in contrast to Charles Schwab’s $10.10 trillion during the same timeframe.