Robinhood’s bitcoin & gold contracts outpace sports growth
Robinhood runs 11 businesses topping $100m in annual revenue, an executive says.
The hit
Sports still tops Robinhood’s prediction markets, but JB Mackenzie, the firm’s VP & GM for futures & prediction markets, says other contracts are catching up fast. He spoke at the NEXTPredict conference in New York on Thursday.
Why it matters
Sports contracts face legal challenges from state gambling regulators, according to CoinDesk. Financial contracts could offer another source of growth. Traders are also moving toward shorter windows, particularly in crypto, Mackenzie said.
The record
| Fastest-growing contracts | Bitcoin, gold & oil price volatility, among the fastest-growing (Robinhood’s JB Mackenzie) |
|---|---|
| Largest September event contract | Federal Reserve interest rate decision, not sports, reflecting growing interest in economic events |
| Crypto contract settlement speed | Shortened from a week to 15 minutes |
| Robinhood’s $100m+ revenue businesses | 11 segments |
What happens next
Watch whether those legal challenges push more volume toward bitcoin, gold & oil products on Robinhood.
Sources: Robinhood sees surge in Bitcoin, Gold prediction markets as traders move beyond sports
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