Overview
- CEO Vlad Tenev said customers have traded more than 4 billion event contracts in total, including over 2 billion in the third quarter alone.
- Robinhood shares jumped roughly 12% to record highs after the milestone, extending a yearlong rally as investors reward the new business line.
- The company offers event contracts in the U.S. through CFTC-regulated partners such as Kalshi, with recent additions including pro and college football markets.
- Executives confirmed discussions with the UK Financial Conduct Authority about a localized rollout in Europe, with timing dependent on regulatory classification and approvals.
- Analysts estimate the segment is generating meaningful fees, including about $25 million for 3Q at $0.01 per contract and some projecting an annualized run rate above $200 million, while new Kalshi parlays pressured sportsbook stocks DraftKings and Flutter.