Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCryptocurrencyNewsRobinhood CEO says event markets are the firm’s fastest-growing unitPrediction markets have drawn customers to exchanges such as Robinhood as crypto trading has declinedAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Robinhood on Wednesday reported second-quarter results that showed revenue from prediction markets eclipsed what the online brokerage brought in from cryptocurrency trading. Photo by Gabby Jones/BloombergRobinhood Markets Inc.’s prediction markets business is the fastest growing in the firm’s history, chief executive Vlad Tenev said.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Accountor“Prediction markets have been growing consistently since March,” Tenev said in a Bloomberg TV interview Thursday. “We expect it to continue to be strong.”Robinhood on Wednesday reported second-quarter results that showed revenue from prediction markets eclipsed what the online brokerage brought in from cryptocurrency trading as the value of digital assets slumped.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againPrediction-markets revenue climbed 10-fold from a year earlier to US$156 million, compared with US$100 million from crypto, the Menlo Park, California-based company said Wednesday in a statement.Prediction markets have drawn customers to exchanges such as Robinhood and Coinbase Global Inc. as crypto trading has declined, with Bitcoin dropping toward its lowest price in two years. The FIFA World Cup, which began three weeks before the end of the quarter, was a boon for prediction markets and a testing ground for Rothera, the derivatives exchange that Robinhood owns along with Susquehanna International Group.Rothera has become one of the three largest designated contract markets, Tenev said on a call with analysts Wednesday.—With assistance from Emily Graffeo and Romaine Bostick. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.