Robinhood’s latest offering will allow customers to wager on the individual performance of professional football players.
Robinhood (HOOD) CEO Vlad Tenev said on Tuesday the company is at the early stages of a “prediction market supercycle,” pointing to growing demand for event-based trading tied to real-world outcomes.
Speaking at the Robinhood’s keynote event, where the company rolled out a slew of new features such as a new batch of sports-focused event contracts on Tuesday, Tenev said prediction markets remain underpenetrated relative to their potential.
“I believe we’re at the very beginning of a prediction market supercycle and as it progresses, we should expect to see adoption and volumes continuing to grow, potentially into the trillions of contracts traded each year.”
– Vlad Tenev, CEO, Robinhood
HOOD’s stock was among the top trending tickers on Stocktwits, edging 0.4% higher in after-hours trade after a gain of 3.59% on Tuesday. Retail sentiment on the platform around the company trended in ‘bullish’ territory over the past day, with chatter at ‘high’ levels.
Robinhood’s Event Contracts For Player-Level Sports Data
Robinhood’s latest expansion will allow customers to trade contracts tied to the individual performance of professional football players. Initial offerings focus on four statistical categories – touchdowns, passing yards, receiving yards, and rushing yards.
The contracts are available through Robinhood’s event contracts hub, which routes trades via CFTC-regulated derivatives exchanges. The company markets the products as financial instruments rather than betting, a distinction that aligns with existing regulatory frameworks.
Robinhood also previewed “Robinhood Cortex,” an AI-powered assistant designed to help users research markets and execute trades across stocks, crypto, and prediction markets. The feature is slated to launch soon for Robinhood Gold subscribers.
Prediction Markets Gain Momentum
Robinhood’s expansion comes amid a broader push into prediction markets across both traditional finance and crypto. Gemini launched its ‘Gemini Predictions’ platform nationwide this week, while Coinbase is expected to unveil prediction markets and tokenized equities next week.
Robinhood’s latest offering will allow customers to wager on the individual performance of professional football players, expanding beyond macroeconomic data, elections, and broader sports outcomes.
The contracts are offered through Robinhood’s event contracts hub, which routes trades through CFTC-regulated derivatives exchanges and markets the products as financial instruments rather than betting.
Robinhood’s expansion comes amid a broader push into prediction markets across both traditional finance and crypto. Gemini launched its ‘Gemini Predictions’ platform nationwide this week, while Coinbase is expected to unveil prediction markets and tokenized equities in the coming days, according to a Bloomberg report.
Read also: PancakeSwap Joins Growing Prediction Market Push Across Crypto With Probable Launch
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