Robinhood Reports Fast Growth in Bitcoin, Gold and Oil Prediction Contracts
Robinhood says prediction-market contracts tied to Bitcoin, gold and crude oil are among its fastest-growing products as traders shift from sports and elections toward financial markets.
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AfroEuropa desk
Robinhood Markets says contracts tied to Bitcoin, gold and crude oil rank among the fastest-growing products in its prediction-market business, as traders increasingly use the contracts to speculate on financial markets rather than on sports and elections.
JB Mackenzie, the company's Vice President and General Manager for Futures and Prediction Markets, described the price-volatility contracts as among the platform's quickest-growing offerings, while noting that sports still accounts for its largest category. Speaking at the NEXTPredict conference in New York, Mackenzie said volatility contracts linked to Bitcoin, crude oil and gold were beginning to dominate the marketplace, according to BitKE. CoinDesk similarly reported that Bitcoin, gold and oil contracts are among the firm's fastest-growing prediction markets.
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