Robinhood Launches Combos to Let Users Trade and Hedge Almost Anything
Robinhood used its Tuesday night YES/NO event to preview a major expansion of its prediction markets business, centered on a new feature called “Combos” that lets users bundle multiple YES/NO event contracts into a single trade. CEO Vlad Tenev said the goal is to make it possible for customers to “trade and hedge pretty much anything,” by combining binary markets across sports, politics, culture, and other categories into customized positions.
The company plans to start with preset combinations for NFL games rolling out this week, essentially parlay-style bundles. Custom combinations are expected to launch in January, with Robinhood pitching the feature as a foundation for cross-category trades that could eventually span far beyond sports.
That ambition comes with a scaling problem. Tenev warned that users could face “tens potentially hundreds of thousands of markets and millions of potential combinations,” on top of the stocks, options, and crypto already offered in the app. Robinhood is positioning AI as the solution, highlighting upgrades to Robinhood Cortex, its in-app investing assistant. The revamped Cortex is slated for early 2026 for Robinhood Gold subscribers, and will support conversational research, trade execution, and account actions. Robinhood says the tool is designed to summarize both sides of an issue rather than give personalized advice.
Robinhood also tied the roadmap to its infrastructure strategy. Last month, the company and Susquehanna International Group agreed to acquire a 90% stake in LedgerX, a CFTC-regulated derivatives exchange and clearinghouse, in a deal announced Nov. 25 and expected to close in the first quarter of 2026. Robinhood argues owning the stack will speed up listings and reduce reliance on partners like ForecastEx and Kalshi, which has also been pushing parlay-like combos after surpassing $100 million in volume.
To keep users engaged, Sherwood Media (Robinhood’s news division), announced “Scoreboard,” a daily prediction markets newsletter tracking games, stats, and market moves.