Robinhood’s chief brokerage officer said the company had found no meaningful customer churn from prediction markets. The firm said the products tended to attract customers from its other asset classes.
The reported customer pattern gives investors and operators insight into prediction markets’ relationship with other financial products.
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Speakers at day one of the NEXTPredict Summit New York debated who gains from prediction markets, with economists disagreeing over whether retail traders are structurally disadvantaged. DraftKings' Jason Robins said the company's predictions business is already the third-largest exchange despite operating in fewer than half of US states.
DraftKings chief executive Jason Robins said the company could benefit whether sports prediction markets remain available or are restricted, while it monitors related legal challenges. He said sportsbook handle rose about 15% year over year in the first two weeks of the NFL season, and the company may bring forward some customer-acquisition and marketing spending planned for 2027, depending on trading and customer data.
CNBC’s Morning Squawk newsletter reported growing interest in Polymarket and Kalshi as football and the US election cycle gather pace. CNBC linked the attention to football’s return and the approaching November election, and also mentioned Robinhood.
According to CNBC's Morning Squawk newsletter, platforms such as Polymarket and Kalshi are attracting more attention now that football season has begun and the U.S. election is approaching. The newsletter placed the topic in its Monday digest of stories that move markets, a list that also covered worries about AI regulation, climbing oil prices, inflation figures and the Federal Reserve meeting scheduled for that week.
Reportedly, Robinhood Markets has agreed a multi-year prediction markets partnership with OG.com. OG.com will provide infrastructure and clearing, with Robinhood routing retail event contracts through its CFTC-regulated exchange and clearinghouse. Robinhood will also take initial equity stakes in Crypto.com and OG.com.
Robinhood said it will send some of its football prediction contracts to OG.com’s derivatives exchange and clearinghouse, with the first contracts expected before the new US professional football season. The partnership gives Robinhood equity stakes in Crypto.com and OG.com; the companies were valued at $20bn and $5bn respectively, the report said.