Core Insights - Prediction markets are projected to become one of the largest asset classes, as suggested by Robinhood's Chairman and CEO Vlad Tenev during the company's Q3 earnings call [1][3] - Robinhood has seen significant growth in its prediction markets, doubling the volume of contracts traded each quarter since their launch [2][4] - The total number of event contracts traded reached 2.3 billion in Q3 and 2.5 billion in October alone [2] Company Growth and Diversification - Prediction markets have generated over $100 million in annualized revenues for Robinhood, marking a successful addition to its business lines [4][5] - The company has diversified its offerings, adding two new business lines in 2023 that also generate over $100 million in annualized revenue, including Bitstamp, a cryptocurrency exchange [5][6] - As of now, Robinhood has 11 business lines that exceed $100 million in annualized revenue, indicating strong business diversification [6] Market Potential - The rapid growth of prediction markets is attributed to a market architecture that allows for broader product offerings and the entry of major platforms [3] - Tenev noted that prediction markets reached a $300 million run rate based on October volumes, making it the fastest-growing business line in the company's history [7]