Robinhood is betting on itself. Actually.
The corporate has began routing choose FIFA World Cup occasion contracts by means of Rothera, the derivatives alternate it co-owns with Susquehanna Worldwide Group, moderately than relying totally on Kalshi. The transfer covers particular person match outcomes, general event winners, and complete objectives contracts.
Robinhood shares climbed greater than 6% following the announcement.
Why Robinhood is constructing its personal alternate
Rothera obtained CFTC approval and started self-certifying soccer occasion contracts in Might 2026, with certification filings for 4 particular soccer contracts submitted on Might 28. Rothera reported over $2 million in buying and selling quantity throughout a latest weekend. Robinhood was beforehand dealing with round 3 billion occasion contracts per thirty days, producing roughly $30 million in month-to-month income.
Robinhood entered the prediction markets house in early 2025 by means of a partnership with Kalshi, initially specializing in NFL and faculty soccer contracts. In November 2025, Robinhood alongside Susquehanna Worldwide Group acquired a majority stake within the LedgerX alternate, which has since been rebranded as Rothera. CEO Vlad Tenev emphasised Rothera’s plans for a Q2 2026 launch throughout latest earnings calls, mentioning the advantages of getting a totally built-in market platform over earlier fee-sharing preparations with companions.
The World Cup as a stress check
The 2026 FIFA World Cup is hosted throughout the US, Canada, and Mexico. Not all the things is shifting off Kalshi — some World Cup contracts will stay on the third-party alternate whereas Robinhood gauges Rothera’s efficiency below stay situations.
