Robinhood says price contracts on bitcoin, gold and oil are now its fastest-growing prediction market products — starting to dominate the whole marketplace. In September, the Federal Reserve's interest rate decision was Robinhood's single biggest event contract — not a game, not an election — showing traders now bet on markets themselves.
Key points:
- Robinhood's JB Mackenzie says bitcoin, gold and oil price contracts are the fastest-growing products on its prediction market platform.
- Crypto prediction contracts now settle in as little as 15 minutes, down from a week.
- Prediction markets could become Robinhood's fastest-growing of its 11 businesses that each earn over $100 million a year.
Speaking at the NEXTPredict conference in New York on Thursday, Mackenzie — Robinhood's vice president and general manager for futures and prediction markets — said traders are moving beyond sports and elections toward short-term bets on price moves. "Price volatility contracts, such as bitcoin, crude oil, gold, start to dominate the marketplace," he said. Sports is still the platform's biggest product, but financial markets are where the growth is now.
The contracts keep getting shorter. Crypto bets started at a week, moved to a day, and some now settle in just 15 minutes. Mackenzie compared them to zero-day options, which expire the same trading day — both can produce fast losses, though they work differently.
Read also: Phantom Rolls Out Kalshi Markets to US — Is $60B October Next?
What happens next?
The shift matters because sports contracts are under legal pressure from state gambling regulators, and financial contracts could fill the gap. Robinhood entered prediction markets through its partnership with Kalshi, the federally regulated prediction market exchange.
Prediction markets are also pulling customers deeper into Robinhood. Mackenzie said traders who arrive for event contracts quickly start exploring stocks, crypto, futures and options — and even retirement accounts. With 11 businesses each generating more than $100 million a year, he said prediction markets could become the fastest-growing of them all.
— Crypto News Daily News Desk
Read also: Bitcoin ETFs Bleed $635 Million in Biggest Outflow Since June — Streak Over?
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk
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