Robinhood prediction markets expand into bitcoin, gold and oil contracts

Robinhood has extended its prediction market offering to cover bitcoin, gold, and oil contracts, with commodity and crypto instruments now leading volume growth on the platform.

The expansion moves Robinhood beyond its initial political and sports event contract slate into financial commodity territory — the same ground Kalshi entered with its crypto contracts, which crossed $2 billion in weekly volume earlier this month. Robinhood's entry into that space, at scale, means the commodity prediction market now has at least three significant platforms competing for the same customer base: Kalshi, Robinhood, and the CFTC-regulated exchange infrastructure that DraftKings built through DKEx.

The commodity angle matters for regulatory positioning. Contracts settling on bitcoin prices or oil benchmarks sit more clearly within CFTC jurisdiction than political or sports event contracts do, which have attracted state-level challenges in Ohio and Utah. A platform that builds volume in commodity prediction markets first is building on firmer legal ground while the court system works through the sports and election contract questions.