Robinhood shares surge more than 10% on prediction markets milestone

Stock Performance & Market Position - Robinhood's stock has tripled year-to-date and jumped over 10% on the day, reaching a record high [2] - Robinhood's market capitalization is now slightly larger than KKR's [4] - Crypto's comeback is helping Robinhood's shares [5] Business Expansion & New Services - Robinhood's prediction markets have traded over 4 billion event contracts, with more than half of that volume in Q3 alone [2] - Robinhood has started rolling out banking services meant to mimic luxury private banking, aiming to become a full-service financial hub [3][4] - Robinhood's crypto ambition includes offering shares of SpaceX and OpenAI [6] Regulatory Landscape - Prediction markets are facing regulatory scrutiny for blurring the line between investing and gambling [3]