Robinhood CEO: Crypto Event Contracts Will Overtake Sports Betting
- —Robinhood processed about 9 billion event contracts over the past year
- —Tenev: crypto contracts already generate a disproportionately large share of the prediction business
- —Robinhood formed a joint venture with Susquehanna to acquire exchange MIAXdx (formerly LedgerX)
- —Sports contracts from Kalshi and Polymarket are being challenged in courts in New York and Baltimore
Why it matters: Prediction markets are becoming a major revenue source for Robinhood, with the crypto segment outpacing sports, where legal risks are mounting.
Source: BeInCrypto