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53m ago

Robinhood Sets Fresh Record High as Prediction Markets Top 4 Billion Trades

Investor optimism centers on surging event‑contract volumes alongside recent growth in customer assets.

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Just months after cutting 9% of its workforce, Robinhood on August 2 announced plans to lay off another 23%. (Adobe Stock via CNN)
Robinhood eyes global expansion of prediction markets after u.s. debut: bloomberg
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Overview

  • CEO Vlad Tenev said customers have traded more than 4 billion event contracts since launch, with over 2 billion in the third quarter alone.
  • Shares notched another all‑time high on Tuesday, trading above $142 after Monday’s record, with the stock up roughly 275% this year.
  • Bloomberg, as cited by Decrypt, reported the company is exploring expanding prediction markets outside the U.S., including talks with the U.K.’s Financial Conduct Authority.
  • Through its partnership with Kalshi, a CFTC‑regulated venue, Robinhood may account for about 25% to 35% of Kalshi’s daily event‑contract activity, according to Piper Sandler.
  • Benzinga highlighted August operational strength with platform assets at $304 billion and $4.8 billion in net deposits, and reported the event‑contract business pacing above a $200 million annualized rate.