Prediction markets are Robinhood’s fastest-growing money maker
Since Robinhood launched its prediction markets in March, nine billion contracts have been traded by more than one million users, according to the platform.
Trading platform Robinhood said prediction markets have emerged as one of its fastest-growing product lines in terms of revenue, and it is set to expand the business with a futures and derivatives exchange and clearinghouse.
Since launching its prediction markets in March in partnership with prediction market platform Kalshi, nine billion contracts have been traded by more than one million users, Robinhood said in a statement on Tuesday.
JB Mackenzie, general manager of futures and international at Robinhood, said the platform was “seeing strong customer demand for prediction markets, and we’re excited to build on that momentum.”
