Robinhood Says Bitcoin, Gold and Oil Are Its…

JB Mackenzie, Robinhood’s vice president and general manager for futures and prediction markets, said at the NEXTPredict conference in New York that sports remains the platform’s largest prediction-market category. But financial price contracts are gaining ground quickly.

“We’ve now started to see price volatility contracts, such as bitcoin, crude oil, gold, start to dominate the marketplace, and they’re the fastest growing products that are out there,” Mackenzie said.

Robinhood did not provide asset-by-asset trading volumes or growth rates alongside the comments, so the ranking reflects management’s description rather than independently disclosed category data. The direction nevertheless matters because it suggests prediction markets are expanding beyond elections and sports into products that compete more directly for the attention of active financial traders.

Why Are Financial Prediction Markets Growing?

Financial event contracts give traders a binary way to express a market view. Instead of buying bitcoin or trading a conventional derivative, a customer can take a position on whether bitcoin will be above a specified price at a particular time.

The same structure can be applied to gold, crude oil, interest rates, inflation and other measurable financial outcomes. FinanceFeeds recently identified Robinhood among the major venues distributing macroeconomic and crypto event contracts, alongside Kalshi, ForecastEx and other prediction platforms.

Robinhood’s largest individual event contract in September was tied to the Federal Reserve’s interest-rate decision rather than a sporting event, according to Mackenzie. That provides another indication that macroeconomic events can attract volumes comparable with categories traditionally associated with prediction markets.

The brokerage is also seeing demand move toward increasingly short settlement windows. Mackenzie said crypto contracts initially ran for a week, then moved toward daily expirations, with some products now settling in as little as 15 minutes.

Investor Takeaway

How Much Does Prediction-Market Growth Matter to Robinhood?

The shift is financially relevant because event contracts have already developed into one of Robinhood’s largest transactional businesses.

FinanceFeeds previously reported that Robinhood generated $156 million from event contracts in the second quarter of 2026, exceeding its transaction-based revenue from either equities or cryptocurrencies during the period. Trading reached 13.6 billion event contracts.

Mackenzie said Robinhood now has 11 businesses generating more than $100 million of annual revenue each and described prediction markets as potentially the fastest-growing among them.

The product also has value beyond direct trading revenue. Mackenzie said customers who arrive to trade event contracts often expand into equities, crypto, futures and options. Some also discover Robinhood’s retirement products.

That makes prediction markets both a revenue line and an acquisition channel. A customer attracted by a short-term bitcoin or Fed contract can potentially be converted into a user of several other Robinhood products without leaving the app.

Why Do 15-Minute Bitcoin Contracts Change the Risk Profile?

The move toward 15-minute crypto contracts pushes prediction markets closer to the behavior of very short-duration speculative products.

Mackenzie compared the risk to zero-day options, although the instruments are structurally different. A binary event contract has a predefined outcome and bounded payoff, while an options contract derives its value from the underlying asset, strike price, volatility and time remaining until expiration.

The similarity lies in the compressed trading horizon. When contracts settle every 15 minutes, traders have very little time for a position to recover from an adverse move, encouraging repeated short-term decisions around small price changes.

For Robinhood, that may increase engagement. For customers, it also means financial prediction markets increasingly resemble active trading products rather than occasional wagers on major political or economic events.

Investor Takeaway

Could Financial Contracts Reduce Robinhood’s Reliance on Sports?

The diversification also arrives while sports event contracts face continuing legal challenges from U.S. states and tribal gaming interests over whether federally regulated derivatives can effectively operate as sports betting products.

That exposure matters because sports remains Robinhood’s largest prediction-market category. FinanceFeeds reported that a federal appeals court restricted Kalshi sports contracts on California tribal lands, one of several disputes testing the boundary between federal derivatives regulation and state or tribal gambling authority.

Bitcoin, gold, oil and macroeconomic contracts do not eliminate regulatory risk, but they provide a growth path that is less directly tied to the sports-betting dispute.

Robinhood has also expanded the infrastructure behind its prediction-market business, adding additional regulated trading and clearing relationships rather than relying on a single venue.

The emerging strategic question is therefore no longer simply whether prediction markets can grow beyond elections. Robinhood’s latest activity suggests financial-market contracts themselves could become a recurring trading category, allowing users to speculate on bitcoin, commodities and monetary policy on time horizons that increasingly resemble conventional active trading.