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Bernstein forecasts prediction-market revenue growth for Robinhood and Coinbase

Deals & M&A

Bernstein analyst Gautam Chhugani forecast Robinhood prediction-market revenue of $1.7 billion in 2028 and Coinbase revenue of $2 billion from event contracts and derivatives products that year. He also estimated Robinhood’s event-contract revenue at $650 million for 2026 and Coinbase’s at $600 million for the current year; the latter estimate includes products that may extend beyond event contracts.

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The forecasts give investors revenue estimates for prediction-market and related products at two financial-services companies.

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Regulation

Ohio regulator warns licensees over prediction market services

The Ohio Casino Control Commission has told sports betting and fantasy contest licensees and applicants that providing services to prediction market operators may affect their suitability. Interim executive director Andromeda Morrison said licensees must confirm compliance with the notice by 30 October. The commission issued cease-and-desist letters to 10 prediction market companies after a Sixth Circuit ruling allowed Ohio to enforce its gaming laws against Kalshi.

The Ohio Casino Control Commission has sent a notice to sports betting and fantasy contest licensees and applicants in the state warning that providing services to prediction market operators may affect their suitability. Andromeda Morrison, the commission's interim executive director, told the seven-member Commission on Wednesday that licensees and applicants must confirm compliance with the notice by 30 October. The notice was first reported by The Event Horizon newsletter.

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