Robinhood is rolling out NFL parlay and prop bets on prediction markets platform
Pat Freiermuth #88 of the Pittsburgh Steelers runs the ball during the fourth quarter of the NFL 2025 game against the Miami Dolphins at Acrisure Stadium on December 15, 2025 in Pittsburgh, Pennsylvania.
Lauren Leigh Bacho | Getty Images
robinhood It expands the capabilities of its fastest-growing product, prediction markets, by giving users the ability to place significant bets on multiple NFL games, putting it in direct competition with traditional sportsbooks.
Starting Tuesday, users will be able to trade predetermined combinations of results, totals and spreads for individual NFL games, and starting in early 2026, users will have the ability to create custom combinations of up to 10 results across NFL games. These “will have a structured look or feel like a negotiation,” JB Mackenzie, Robinhood’s vice president and general manager of futures and international, told CNBC.
Moreover, the company also allows users to bet on the performances of individual NFL players in real time. For example, they can place prop bets on a specific player scoring a goal at any point in the game, as well as a player’s passing, receiving and attacking yards.
“This was a great opportunity for us to really be a leader in the space, and that’s what we’re working towards,” Mackenzie said. “The enhancements here are another example of that; we’re trying to create new customer experiences that make this easier, and in some cases provide them with more advanced order types and commerce capabilities to meet the needs they’re asking us for.”
The new features were unveiled at the company’s “Robinhood Presents: YES/NO” launch event held at the Summit Skywalker Ranch in Nicasio, Calif., just outside San Francisco.
According to Robinhood, his negotiation prowess could even extend beyond the NFL in the future. The broker is also looking for opportunities to allow combinations across different event categories, including those outside of sports, such as economic data.
Playing in non-sporting events
“Over time, the question will be: ‘Is there interest in bringing together different classes of entities?’” Mackenzie said, noting “something related to climate and election” as an example. “All sporting events are definitely on the radar. I also think domestic and international politics will be there, as well as domestic and international economic data.”
Robinhood’s interest in prediction markets gives users the ability to trade the contract of former Vice President Kamala Harris or President Donald Trump.
Just over a year since partnering with ForecastEx for election trading, the company has expanded its presence in the prediction markets ecosystem. This year it partnered with prediction market operator Kalshi. More recently, it announced a joint venture with Susquehanna International Group in November.
Robinhood is seeing the fruits of its labor. Prediction markets have already generated $100 million in annual revenue, with 11 billion contracts executed by more than 1 million customers. According to October figures, it is on track to become a $300 million business.
November was the business’s biggest month to date, with more than 3 billion contracts traded; This represents an increase of approximately 20% compared to October. 2.5 billion contracts were traded that month; This is more than the entire third quarter performance of the year, at 2.3 billion contracts.
“I actually think we’re at the beginning of where this is really going,” Mackenzie said. “I think we will continue to see an expansion of not only the events but also the asset classes that people can continue to trade.”
The Schwab of Gen-Z
Earlier this year, Piper Sandler said Robinhood’s prediction markets were out of business. It presented a “significant” growth opportunity for the company, and they’re not the only ones optimistic.
Mizuho analyst Dan Dolev said Robinhood users’ strong desire to engage with prediction markets offers “a lot of positive outcomes.” A recent survey found that users of Robinhood and Coinbase, another platform, were nearly nine times more likely to participate in prediction markets than non-users.
“They are going after a user base that is already predisposed to engage with prediction markets,” he said in an interview with CNBC. “Over time they will become a kind of hub for prediction markets.”
Dolev said Robinhood’s move into prediction markets is the main reason the stock is up a whopping 220% in 2025.
HOOD, 1 day old
However, the analyst underlined that prediction markets are not the only thing the company should pay attention to. He predicts that with its involvement in other areas such as retirement, Robinhood will eventually become “the new Schwab of Generation Z.”
To put that in perspective, Robinhood’s assets under custody for the full year 2024 were $193 billion. Charles Schwab total client assets were $10.10 trillion during the same period.
“Predictive signs are one aspect,” he continued. “They revolve around every aspect of someone’s financial life.”
KeyBanc Capital Markets analyst Alex Markgraff agrees. He said some of the company’s other efforts, including its consulting business and its high-demand gold card, are in the “early stages of scaling.”
“In the short term [prediction markets is] “This is certainly an area where you can have a very large growth contribution based on the apparent appetite for event contracts in consumer retail,” he told CNBC. “Again, [there are] “In our opinion, there are multiple sources of growth.”
