Robinhood is rolling out NFL parlay and prop bets on prediction markets

Robinhood is stepping up the capabilities of its fastest growing product — prediction markets — by giving users the ability to place what are essential parlay bets on multiple NFL games, putting it into direct competition with traditional sports books.

Starting Tuesday, users are able to trade preset combinations of the outcome, totals and spreads of individual NFL games, and starting in early 2026, users will have the ability to create custom combos of up to 10 outcomes across NFL games. Those will have “a structural look or feel as a parlay,” JB Mackenzie, vice president and general manager of futures and international at Robinhood, told CNBC.

Even more, the company is allowing users to wager on the performances of individual NFL players in real time. For example, they can place prop bets on a certain player scoring a touchdown at any point during a game as well as the passing, receiving and rushing yards for a player.

“This was a great opportunity for us to really be able to become the leader in the space, and that’s what we’re working to do,” Mackenzie said. “The enhancements here are another example of it, where we’re trying to build new customer experiences that make it easier and, in some cases, provide them more advanced order types and trading capabilities to meet the needs that they’re asking us for.”

The new features were unveiled at the company’s “Robinhood Presents: YES/NO” keynote event at the Summit Skywalker Ranch in Nicasio, Calif., right outside San Francisco.

The parlay capability may even extend beyond the NFL in the future, according to Robinhood. The broker is also looking at opportunities to allow combos across different event categories, including those outside of sports like economic data.

“Over time, the question is going to be, ‘Is there interest to pair assets from different classes together?’” Mackenzie said, noting “something that’s associated with climate and an election” as an example. “All sporting events are definitely on the radar. I also think that domestic and international economic data is going to be on there as well, as well as domestic and international policy.”

Robinhood’s involvement with prediction markets began just before the 2024 presidential election, where it gave users the ability to trade a contract of former Vice President Kamala Harris or President Donald Trump.

In a little more than a year since it partnered with ForecastEx for election trading, the company has only expanded its presence in the prediction markets ecosystem. It has partnered with prediction market operator Kalshi this year. More recently, it announced a joint venture with Susquehanna International Group in November.

Robinhood has been seeing the fruits of its labor….