Robinhood (HOOD) introduces football prediction markets, driving stock growth

Robinhood launches new prediction markets for NFL and college football games, allowing customers to trade on outcomes through the app.

The markets will include pro matchups and college Power Four school games, rolling out in the coming days. The move is part of Robinhood’s expansion into sports wagering, with a focus on engagement and potential growth in the sports betting industry. Since introducing prediction markets, over two billion contracts have been traded, contributing to the stock’s 400% increase in the past year.