Robinhood Shares Climb 12% on Growth in Prediction-Market Trades

Core Insights - Robinhood Markets Inc. shares increased over 12% following CEO Vladimir Tenev's announcement of significant growth in prediction markets, with over 4 billion event contracts transacted by customers, including 2 billion in Q3 alone [1][2] Group 1: Business Expansion - The brokerage has partnered with Kalshi to offer prediction-market contracts, which are regulated by the US Commodity Futures Trading Commission [2] - Robinhood expanded its offerings to include pro- and college-football contracts in August [2] Group 2: Market Performance - The recent share price increase has led to a record high for Robinhood, contributing to a more than 260% increase in shares this year [2] - Robinhood was added to the S&P 500 Index this month, reflecting its growing prominence in the market [2] Group 3: Core Business Operations - Beyond prediction markets, Robinhood's primary business remains focused on trading stocks, options, and cryptocurrencies [3]