Robinhood is expanding its rapidly growing prediction markets by enabling parlay-style bets on NFL games, positioning itself directly against traditional sportsbooks.
Pat Freiermuth, No. 88 of the Pittsburgh Steelers, is pictured during a December 15, 2025 game against the Miami Dolphins at Acrisure Stadium in Pittsburgh, with Lauren Leigh Bacho of Getty Images credited for the photo.
Robinhood is enhancing its prediction markets platform by offering preset parlay-style combinations that cover the outcomes, totals, and point spreads of individual NFL games. Starting Tuesday, users can trade these bundled outcomes, and by early 2026, they will be able to assemble custom parlay-like combos that span up to 10 different results across multiple NFL games. JB Mackenzie, Robinhood’s vice president and general manager of futures and international, described these features as giving the market a “parlay” feel and said the company aims to make the experience more intuitive while also providing advanced order types to meet user demand.
In addition, Robinhood is introducing real-time prop bets on individual players’ performances. For example, users can wager on a specific player scoring a touchdown at any point in a game or on metrics such as passing, receiving, and rushing yards for a player.
Mackenzie expressed confidence that these enhancements will help Robinhood emerge as a leader in the prediction markets space by delivering new customer experiences and more sophisticated trading options.
The new features were unveiled at the company’s “Robinhood Presents: YES/NO” keynote during the Summit Skywalker Ranch event in Nicasio, California, near San Francisco.
Robinhood has hinted that the parlay capability could extend beyond the NFL in the future. The platform is exploring the possibility of combining outcomes from different event categories, including non-sports areas such as economic data.
Mackenzie remarked that over time, there could be interest in cross-asset, cross-category pairings—examples include data related to climate, elections, or other event types. He noted that sports events are a primary target, but both domestic and international economic data and policy could also become available.
Robinhood began its foray into prediction markets ahead of the 2024 U.S. presidential election, offering contracts on figures such as Kamala Harris and Donald Trump. Since partnering with ForecastEx for election trading, the company has expanded its footprint in prediction markets by partnering with Kalshi this year and forming a joint venture with Susquehanna International Group in November.
The business is already yielding noticeable results. Annualized revenue from prediction markets has reached about $100 million, with roughly 11 billion contracts traded by more than 1 million users. Based on October data, the segment is on track to reach about $300 million in annual revenue.
November marked the strongest month yet, with over 3 billion contracts traded, a roughly 20% increase from October. That month alone accounted for 2.5 billion contracts, which exceeded the entire third quarter’s performance (2.3 billion contracts).
Mackenzie believes this is just the beginning, predicting continued expansion in both new events and asset classes, enabling more people to trade across a broader range of opportunities.
Industry observers see significant growth potential. Piper Sandler has described Robinhood’s prediction markets as a meaningful growth driver, while analysts from Mizuho note strong user interest for prediction markets among Robinhood and Coinbase users, suggesting a pathway for Robinhood to become a central hub for prediction markets.
Analysts also emphasize that prediction markets are just one piece of Robinhood’s broader strategy, which includes retirement services and other offerings. Some expect the company to evolve into a broader, Schwab-like platform appealing to younger investors, given its substantial assets under custody and ongoing expansion into advisory services and premium card offerings.
Overall, while some see prediction markets as a major growth engine, others caution that the broader suite of Robinhood’s services will collectively drive long-term value as the company broadens its reach across various facets of personal finance.
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