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

Core Insights - Robinhood's stock reached a new high, trading close to $140 per share, with a peak above $142, reflecting a year-to-date increase of 275% [1][2] Group 1: Company Developments - Robinhood co-founder and CEO Vlad Tenev announced that customers have traded over 4 billion event contracts on the prediction markets platform [2] - The company is planning to expand its prediction market product outside the U.S., specifically engaging with the UK's Financial Conduct Authority for potential entry into the European market [2][3] Group 2: Product Information - Robinhood introduced event contracts last October, allowing users to bet on various outcomes, including sports and political events [3] - The company partnered with licensed prediction market operator Kalshi to offer contracts for events like the March Madness basketball tournament [3]