Robinhood is shifting its World Cup betting offerings to its own platform, ending its reliance on Kalshi, the event contracts exchange that had previously handled the wagers for the brokerage. The change means users will now place bets on the soccer tournament directly through Robinhood, rather than through a third-party marketplace.
Cutting out the middleman
Until now, Robinhood had used Kalshi to power World Cup prediction markets. Moving those contracts in-house lets Robinhood control the full user experience and the financial flow of the bets. Kalshi, a competing prediction market that offers event contracts on everything from elections to weather, will no longer serve as the back-end for those World Cup wagers.
The move comes as Robinhood deepens its push into event contracts, a business line that lets customers bet on the outcome of real-world events. The company first entered the space in 2024, but the World Cup marks one of the highest-profile tournaments it has handled.
Robinhood has not said whether the in-house approach will extend to other major sporting events or political races. The company also has not disclosed how many users placed World Cup bets through Kalshi or what volume of money was involved.
The shift follows a broader trend among brokerages and fintech firms trying to capture more revenue by bringing third-party services under their own roof. For Robinhood, the decision removes a dependency on a competitor and gives it direct access to user betting data.
The World Cup continues through the summer, and Robinhood will now handle all new bets and payouts on its platform. Whether Kalshi will offer similar contracts independently or partner with other firms remains an open question.
