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Robinhood says Bitcoin, gold and oil prediction markets are its fastest-growing

JB Mackenzie of Robinhood says price volatility contracts on Bitcoin, gold and crude oil are the platform's fastest-growing prediction markets, as traders move beyond sports and elections.

Why it matters: Robinhood's event contracts are shifting from sports and elections toward Bitcoin, gold and oil prices, giving traders a regulated way to bet on market moves without holding the assets.

InvestIn.News NewsDesk · 1 min read
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Image: CoinDesk
Original reporting: Helene Braun, CoinDesk

Key points

  • JB Mackenzie, Robinhood's VP and GM for futures and prediction markets, said price volatility contracts on Bitcoin, crude oil and gold are the fastest-growing products.
  • Some crypto contracts now settle in as little as 15 minutes, down from a week and then a day.

Robinhood is seeing growing demand for Bitcoin, gold and oil prediction markets as traders look beyond sports and elections to bet on financial market moves, CoinDesk reports. JB Mackenzie, the company's VP and GM for futures and prediction markets, said price volatility contracts on those assets are the fastest-growing products on the platform.

Even so, he said contracts on Bitcoin, crude oil and gold have started to dominate the marketplace. Such contracts let traders take a position on whether an asset will trade above a set price at a given time, without buying the asset itself.

Mackenzie said the largest event contract in September was tied to the Federal Reserve's interest rate decision rather than sport. Crypto contracts have also shortened, with some now settling in 15 minutes, which he compared to zero-day options in the speed of possible losses.

Mackenzie said prediction markets also draw users into Robinhood's stocks, crypto, futures, options and retirement accounts.

Read the full story on CoinDesk

Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

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