Analyst estimate is based on September volume of $2.6 billion Analyst says Robinhood customers account for up to 35% of Kalshi volume on any given day Robinhood Markets’ (NASDAQ: HOOD) move into football prediction markets is already paying dividends for the company and its investors. Sample images of the Robinhood investing app on smartphones. Prediction markets could add $200 million in revenue for the company, according to an analyst. (Image: Robinhood) In a new report to clients, Piper Sandler analyst Patrick Moley said prediction markets on Robinhood — offered via partnership with Kalshi — have processed month-to-date volume of $2.6 billion, more than doubling the brokerage firm’s previous monthly high. Moley estimates that based on September’s run rate, prediction markets could boost Robinhood’s revenue by as much as $200 million annually. Prediction markets present significant upside opportunity for Robinhood,” said the analyst who reiterated an “overweight” rating and lifted his price target on the financial services stock to $140 from…Â Read More
Category: Financial, Legal, Sports Betting, legal, sports bettingÂ
Source: Casino.org
