US EditionRobinhood is pulling in big money on prediction markets—but doesn't want one of its own
5 Articles
5 Articles
Robinhood is pulling in big money on prediction markets—but doesn't want one of its own
Prediction markets, which allow users to bet in real time on everything from elections to the Super Bowl, are suddenly big business and growing fast. Robinhood underscored that during the company’s Q3 earnings announcement on Wednesday afternoon, stating that prediction markets have grown to $100 million in annualized revenue, and that revenue in October from the category eclipsed that of the entire previous quarter. Robinhood CEO Vlad Tenev spo…
Gambling on Sports is Not Investing, Schwab CEO Warns
Prediction markets are dangerously blurring the line separating gambling and investing, Schwab CEO Rick Wurster cautioned this week. CFTC-approved prediction markets can certainly be used as legit financial instruments, but it’s their venture into sports, and the messaging behind it, that’s causing concern. Sports event contracts, synonymous with sports wagers, are being offered on an increasing number of financial trading platforms. “Only 5% of…
Key points of the News Bernstein now considers that predictive markets are ready for traditional finance, with platforms such as Robinhood and Coinbase integrating them into their products. The report notes that real capital, regulatory clarity and growing user participation drive adoption at scale. Analysts also see predictive markets as a new revenue engine for large Fintech and crypto firms, attracting retail and institutional investors in th…
Robinhood accounts for “a very large chunk” of Kalshi’s volumes, says CFO
Robinhood is responsible for a “substantial” volume of trades on partner Kalshi’s site, according to CFO Jason Warnick, as the retail trading platform revealed that it processed 2.3 billion event contracts in the third quarter. In the month of October, which fell outside the Q3 reporting period, Robinhood, which offers prediction markets through a partnership with Kalshi, handled 2.5 billion event contracts, with Robinhood Vladimir Tenev CEO ass…
Retail Traders Flock to Prediction Platforms; Kalshi Hits $4.4 Billion Volume in October
Prediction markets are moving into new territory, breaking past previous records in October. Data from Kalshi and Polymarket shows more than $7.4 billion in trades during the month, the strongest performance these platforms have seen to date.Join IG, CMC, and Robinhood in London’s leading trading industry event!Robinhood has also reported a sharp rise in prediction activity. The broker said users traded 2.3 billion event contracts between July a…
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