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1h ago

Robinhood Sets New Stock High as Prediction Markets Top 4 Billion and UK Talks Advance

Talks with the UK’s FCA signal a push to export the CFTC‑regulated product in a compliant format.

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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

Overview

  • CEO Vlad Tenev said customers have traded more than 4 billion event contracts since launch, including over 2 billion in the third quarter.
  • The shares notched fresh highs near $140–$142 on Monday and Tuesday following the trading milestone and reports of overseas expansion talks.
  • In the U.S., Robinhood routes event contracts through partners Kalshi and ForecastEx, with Kalshi regulated by the Commodity Futures Trading Commission.
  • Piper Sandler estimates about $25 million in third‑quarter revenue from event contracts and pegs Robinhood users at 25%–35% of Kalshi’s daily activity.
  • Executives say they are evaluating localized structures with the FCA as competition from Polymarket, FanDuel, Underdog and potential CME‑linked offerings grows, while Robinhood curates listings to avoid controversial markets.