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).

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Article Details

Author / Journalist: Cointelegraph by Alex O’Donnell

Category: Crypto

Markets: United StatesSingapore

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

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 18:40:00 (22 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

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