Robinhood
Markets (NASDAQ: HOOD) has added dozens of entertainment-focused prediction
contracts to its platform, allowing users to bet on Grammy nominations, Oscar
winners, and celebrity rankings alongside its existing sports and political
offerings.

Robinhood Adds Grammy,
Oscar Betting to Prediction Markets

The retail
brokerage now offers contracts on categories including which artists will
receive Grammy nominations, Golden Globe award outcomes, and whether specific
musicians will release albums during the year. Users can also trade on
predictions about Google search rankings, Spotify streaming leaders, and awards
like TIME Person of the Year.

The full
list, emailed to FinanceMagnates.com by Robinhood, includes several dozen new
contracts covering a range of other themes, including forecasts for a potential
new pandemic and more science fiction-style questions such as “Will the United
States say that aliens exist this year?”

New Prediction Markets just dropped on Robinhood, including this market on @elonmusk‘s pay package pic.twitter.com/g4wckFGb9v

— Vlad Tenev (@vladtenev) November 4, 2025

Such
instruments only reinforce the view that event contracts have more in common with
gambling than investing, similar to partnerships with legendary poker
players such as Daniel
Negreanu.

Robinhood
offers the contracts through
partner Kalshi, a Commodity Futures Trading Commission-regulated exchange.
The contracts trade between one cent and 99 cents, with payouts of one dollar
if the prediction proves correct. Robinhood takes a one-cent fee per dollar of
contracts traded, on top of Kalshi’s own fees.

Trading Volume Nears $1
Billion Mark

The
expansion comes as Robinhood
reported nearly $1 billion in prediction market trading volume during the
second quarter, with sports contracts accounting for a significant portion
of activity. The company launched its Prediction
Markets Hub in March and has been adding contracts on a weekly basis since
mid-October.

Robinhood
accounted for roughly half of Kalshi’s total trading volume in the second
quarter, according to industry analysis. The brokerage generated approximately
$10 million in revenue from event contracts during that period, though the
figure represents a small fraction of overall company revenue.

The
platform plans to add more than 100 new event contracts across multiple
categories in the coming weeks, according to company statements. JB Mackenzie,
vice president and general manager of futures and international at Robinhood,
said earlier this year that the company views prediction markets as playing an
important role at the intersection of news, economics, politics, sports, and
culture.

Gaming Stocks Feel
Pressure

Traditional
sports betting operators have felt the impact of prediction market growth.
DraftKings shares declined 18% over the past month, with some of the decline
attributed to competition from Robinhood and Kalshi’s sports contracts, though
quarterly results also reflected
favorable outcomes for bettors in NFL games.

Crypto.com
announced a similar push into
entertainment contracts this week through a partnership with Hollywood.com,
offering predictions on actors, award shows, movies, and television programs.
DraftKings also entered the space in October through its acquisition of
Railbird Technologies, which holds a CFTC license for federally regulated
prediction markets.

Also today,
FinanceMagnates.com reported that cryptocurrency exchange Gemini is taking
a more serious look at prediction markets.

International Expansion
Planned

Robinhood
has begun discussions with international regulators, including the UK’s
Financial Conduct Authority, about launching prediction markets outside the
United States. The
company reported interest from users in Europe and the UK, though any
international rollout would require compliance with local regulations.

The
brokerage is scheduled to report third-quarter results later today, with
analysts expecting transaction-based revenues to jump 137% year-over-year to
$756 million. The company’s options trading revenue is projected to rise 49%,
while cryptocurrency transaction revenues are estimated to surge 415% compared
to the prior year.

This article was written by Damian Chmiel at www.financemagnates.com.

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