Robinhood Plans Global Expansion of Prediction Markets Beyond U.S.
- Robinhood (HOOD) plans to expand its prediction markets product globally, beginning with Europe and the UK.
- There is significant international interest in prediction markets, particularly among European and UK traders.
- Discussions with regulators, including the UK's Financial Conduct Authority, are underway to ensure compliance.
- Recently partnered with Kalshi, Robinhood offers users the ability to bet on real-world events like elections and economic data releases.
Rise of Prediction Market
- Interest in event-based trading has surged, influenced by platforms like Polymarket.
- Polymarket processed billions in wagers in 2024, notably during the U.S. presidential election.
- The platform is reportedly valued at $9 billion, up from $1 billion months ago.
- Robinhood's entry could broaden the market for prediction trading beyond current constraints.
