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 says prediction markets have emerged as one of its fastest-growing product lines in terms of revenue, and is now set to expand its 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, the general manager of futures and international at Robinhood, said the platform is “seeing strong customer demand for prediction markets, and we’re excited to build on that momentum.”