Robinhood Stock Hits All-Time High as Company Ups Ante on Prediction Markets

Robinhood inventory hit a brand new excessive Tuesday following a report that the buying and selling platform is increasing its prediction market product exterior of the U.S.

The corporate’s inventory was lately buying and selling for near $140 a share after hitting a excessive earlier Tuesday morning New York time above $142. Nasdaq-listed HOOD is up 275% year-to-date, in accordance with Yahoo Finance knowledge.

HOOD beforehand boomed on Monday after Robinhood co-founder and CEO Vlad Tenev mentioned on X that clients had traded over 4 billion occasion contracts on the corporate’s prediction markets platform. 

Bloomberg then on Tuesday then reported Robinhood’s plans to broaden the prediction markets exterior of the U.S. The report famous that the platform was particularly chatting with the UK’s Monetary Conduct Authority about increasing to the European market. 

Decrypt reached out to Robinhood, however didn’t instantly obtain a response. 

Menlo Park, California-based Robinhood is a buying and selling platform that permits its customers to purchase and promote shares, commodities, and cryptocurrencies. 

The corporate first debuted occasion contracts final October for U.S. clients forward of the presidential election. Occasion contracts permit folks to guess on issues like sporting occasions or political outcomes.

Robinhood then teamed up with licensed prediction market operator Kalshi to supply contracts for March Insanity basketball event video games in March.