Robinhood Expands Prediction Markets Offerings with NFL Parlays
Robinhood’s prediction markets are adding new features that bring the platform closer to traditional sports betting, introducing trade bundles of outcomes that include game results, point spreads, and totals from NFL games, in a similar fashion to traditional sportsbooks' parlays.
According to the company, the combinations allow users to take a single position linked to several outcomes, mirroring the layout of parlays. Additionally, the company announced plans to launch custom combinations in early 2026, allowing users to construct trades with up to ten different NFL game outcomes.
In addition to game-based markets, Robinhood introduced real-time player performance markets, allowing users to trade contracts tied to touchdowns, passing yards, rushing yards, and receiving yards during live games.
The new features were presented at the company's Robinhood Presents: YES/NO keynote event held at Skywalker Ranch in Nicasio, California. Executives framed the update as an effort to deepen engagement with prediction markets, which had become the company's fastest-growing product segment. Sports betting combination plays have already been introduced by other prediction market apps.
Robinhood also signaled that the concept of combination trading could eventually extend beyond the NFL. The company stated that it was evaluating similar structures across other sports and potentially across non-sports events, taking into account economic indicators and public policy developments.
To facilitate its entry into prediction markets, Robinhood has also recently formed a joint venture with Susquehanna International Group to develop a new futures and derivatives exchange.
This method was part of a larger plan to combine event-based contracts with financial-style trading mechanics.
States contest prediction markets
Regulators across the US began to scrutinize Robinhood as it expanded its prediction market offerings. Earlier this month, Connecticut’s Department of Consumer Protection issued cease-and-desist notices to Kalshi, Robinhood, and Crypto.com, asserting that the companies were facilitating illegal sports wagering through event-based contracts.
State officials said sports betting in Connecticut was restricted to licensed operators and that none of the three platforms held authorization to offer such products. Under the orders, the companies were instructed to immediately halt all marketing, promotion, and availability of the contracts to Connecticut residents, and to ensure customers in the state could withdraw any remaining account balances.
Regulators stated that the products violated multiple state gaming statutes and policy standards. This includes rules governing minimum age requirements and consumer safeguards.
The department also raised concerns about inadequate protections for customer data, the lack of technical controls, and the potential for insider wagering on outcomes that are more predictable, such as award shows or professional sports transactions. In addition, officials alleged that the platforms had marketed these offerings on college campuses while continuing to accept wagers.
State officials emphasized that prediction market contracts tied to sports outcomes were not considered investments under Connecticut law. If the cease-and-desist orders are not followed, there may be criminal charges under gaming laws or civil penalties under consumer protection statutes.
This year, Kalshi was the target of similar enforcement actions in several other states, including Ohio, Arizona, Illinois, and Montana.
