Robinhood shares up 8% after launching betting markets hub

Quick Summary:

Robinhood has launched a betting markets hub as the online brokerage — best known for stock trading — expands its presence in emergent asset classes, including cryptocurrencies and event contracts, according to a March 17 announcement. Robinhood’s stock, HOOD, rose roughly 8% on the Nasdaq after the announcement, according to data from Google Finance.

Source: Google FinanceThe online brokerage is tapping Kalshi, the US’ first CFTC-regulated prediction platform, to operate the event contract platform, it said. Kalshi is already registered to list dozens of event contracts, covering outcomes ranging from election results to Rotten Tomatoes movie ratings.

Beyond stock tradingRobinhood has been expanding its footprint in emerging asset classes, including cryptocurrencies and derivatives. On March 13, the company listed memecoins like Pengu (PENGU), Pnut (PNUT) and Popcat (POPCAT) in a bid to expand its presence in crypto. Back in January, it rolled out futures contracts tied to cryptocurrencies such as Bitcoin (BTC).

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Cointelegraph by Alex O’Donnell

Category: Crypto

Markets: United StatesSingapore

Topics: Prediction Contracts Brokerage Robinhood Markets Kalshi Election Platform Betting Event Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 18:40:00 (23 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 430 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27105189

View Article Analysis

About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 577 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

Frequently Asked Questions