Robinhood says prediction markets now bring in $100 million of annual revenue—but no plans to build its own

Prediction markets, which allow users to bet in real time on everything from elections to the Super Bowl, are suddenly big business and growing fast. Robinhood underscored that during the company’s Q3 earnings announcement on Wednesday afternoon, stating that prediction markets have grown to $100 million in annualized revenue, and that revenue in October from the category eclipsed that of the entire previous quarter. Robinhood CEO Vlad Tenev spoke about prediction markets numerous times during a live earn ...