Robinhood CEO: In the next few years, crypto contracts are expected to surpass sports and take the majority share of the prediction market business
On September 22, Robinhood CEO Vlad Tenev said that crypto-related prediction contracts are taking up an increasingly large share of Robinhood’s prediction market business. Over the next few years, sports contracts could decline by at least some amount. Tenev said, “We’ve already seen other categories like crypto take up a disproportionate share. I think within a few years, sports contracts will actually become the minority—similar to what’s happening with overall active trading.” He said that sports contracts are the “on-ramp” that drives the prediction market business, helping the platform attract users, build liquidity, and gain market attention, but the industry is rapidly expanding beyond sports.
On September 22, Robinhood CEO Vlad Tenev said that crypto-related prediction contracts are taking up an increasingly large share of Robinhood’s prediction market business. Over the next few years, sports contracts could decline by at least some amount. Tenev said, “We’ve already seen other categories like crypto take up a disproportionate share. I think within a few years, sports contracts will actually become the minority—similar to what’s happening with overall active trading.” He said that sports contracts are the “on-ramp” that drives the prediction market business, helping the platform attract users, build liquidity, and gain market attention, but the industry is rapidly expanding beyond sports.