Robinhood is only dipping a toe for the time being, insofar as prediction markets are concerned. This is the opinion of Robinhood Markets’ JB Mackenzie, the VP and general manager of futures and international.
Commenting on what the future may hold, and particularly in the prediction market segment, Mackenzie said: “We as a firm are going to be looking to see if there is an available acquisition. I’m always looking to see if there’s something of interest. If there is, we’ll pursue it and see if it’s the right fit.”
Robinhood Exploring Further Growth in Prediction Markets
While Robinhood seems to have some stuff in the works, Mackenzie preferred to keep mum on the matter. Yet, the company is clearly looking into possible mergers and acquisitions, looking to bring in ready-made expertise and further streamline it through its internal development teams.
Such moves would not be surprising in the sector, as Novig, a fairly prominent player, is possibly being courted by both Kalshi and Polymarket. Robinhood did not offer many other insights, with Mackenzie remaining polite but guarded about the platform’s plans.
Prediction markets have come under assault. A few weeks ago, during the Global Gaming Expo in Las Vegas, the industry, led by the American Gaming Association (AGA) has called the sector a roundabout way of dodging sports betting laws.
There have been multiple challenges filed against Kalshi around the United States, with the company winning in some of the early stages and remaining optimistic about the outcome of procedures against it.
Investors Remain Confident in Prediction Market Sector
Further reason for optimism may come from the fact that big companies are investing in the sector. Kalshi has just completed a $300 million Series D funding round, pushing its valuation to an estimated $5 billion, and expanding the company’s offer to 140 countries internationally.
Polymarket, on the other hand, received $2 billion in cash from Intercontinental Change, the company behind the New York Stock Exchange, signaling confidence in the sector. President Donald Trump and his sons are also involved in both Kalshi and Polymarket and seem to be keen on ensuring that prediction markets remain unperturbed in their growth.