Robinhood is deepening its foray into prediction markets with plans to launch a derivatives exchange through a new JV with Susquehanna.
Polymarket and Kalshi are the two dominant prediction market platforms, which have seen around $42.4 billion in cumulative volume.
The timing of the interfaces aligns with Coinbase’s Dec. 17 event, where the exchange says it will unveil new products and business updates.
The FanDuel Predicts app is set to offer event contracts on sports, crypto prices and other benchmark assets, according to the release.
This marks a milestone for Polymarket, which left the US due to an enforcement case with the Commodity Futures Trading Commission.
The news comes a week after Google said it will integrate predictions data from Polymarket and Kalshi directly into its search results.
Led by Polymarket and Kalshi, prediction markets have become a high-growth sector within digital assets as they let users wager on events.
Polymarket’s U.S. comeback follows record trading volumes and growing competition in the prediction market sector.
Polymarket's Matthew Modabber said the prediction market will issue a POLY token and an airdrop after its U.S. app rollout.
Polymarket has launched up/down equity and index markets in a new Finance hub weeks after its U.S.-cleared earnings markets debuted.
Kalshi raised $300 million at a $5 billion valuation on Friday after recently overtaking Polymarket in global market share.
ICE is in advanced talks to invest $2 billion in Polymarket, potentially valuing the platform between $8 billion and $10 billion, according to WSJ.
Polymarket has added Chainlink’s oracle stack on Polygon to deliver tamper-resistant, automated resolutions as the platform eyes a U.S. expansion.
Elon Musk’s xAI is bringing its Grok LLM to CFTC-regulated prediction market Kalshi, which raised $185 million at a $2 billion valuation in June.
The core dispute: Whether federal oversight by the CFTC preempts state authority to regulate sports-related event contracts offered by Kalshi.
CFTC Acting Chair Pham said past years of anti-innovation policies have restricted 'common-sense' regulations of prediction markets.