By SectorWire desk ·
Bernstein projected that Robinhood’s prediction markets could generate $1.7bn by 2028. Analyst Gautam Chhugani raised his share-price target to $160, citing growth in the business.
The forecast projects a potential revenue contribution from Robinhood’s prediction-market operations.
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Linked through shared companies, regulators and people, or one step further through the graph.
The contracts could give operators and investors a regulated route to trade on company performance measures, while the clearinghouse approval remains outstanding.
The applications could enable Blockchain.com to seek approval to bring prediction markets and regulated trading to US users.
Coinbase must suspend Michigan prediction markets while Michigan withholds enforcement during compliance and related appeals.
Coinbase’s withdrawal follows Michigan enforcement against sports event contracts that regulators consider unauthorised sports betting.
Conflicting appeals court decisions leave operators facing unresolved questions about state enforcement of gambling laws against sports event contracts.
The dispute pits state gambling enforcement against the CFTC’s claim of exclusive jurisdiction over sports-event contracts.