Robinhood Expands into Prediction Markets Amid Growth in Crypto and Meme Trading
Robinhood, the online broker with 26.5 million funded accounts, is diversifying its offerings beyond traditional investments. The platform now includes meme coins, Leveraged ETFs, and even prediction markets—blurring the lines between brokerage and speculative trading.
The company's Robinhood Gold subscription service, growing by 1.5 million users year-over-year, adds recurring revenue through IRA matching and an exclusive credit card. While not a full-fledged sportsbook like DraftKings or FanDuel, Robinhood's new event contracts allow yes/no bets on outcomes—a MOVE that could attract crypto-native traders familiar with derivatives.