Company
CFTC-licensed derivatives exchange, a joint venture between Robinhood and Susquehanna International Group, listing event contracts for prediction markets.
Vlad Tenev told Jim Cramer that crypto-linked contracts already take a disproportionate share of Robinhood's event-contract volume, and the $156 million the segment billed in the second quarter works out to about 1.1 cents a contract.
Reality
Artemis put Kalshi at 96% of non-sports prediction-market volume in the week to Sept. 13, up from roughly half in early June. The contracts its brokerage partners lead with settle inside sixty minutes.
Reality
Robinhood's crypto notional rose to $17.5 billion in August, still 38% under the same month a year earlier, and 58% of it now clears through Bitstamp. Event contract counts fell 23% in the same month.
Reality
The brokerage takes minority stakes in Crypto.com and OG.com at Citadel Securities' $20bn and $5bn marks, and in exchange gets a fourth CFTC-regulated venue to route event contracts through without owning one.
Reality
Robinhood is paying Citadel's July price for an undisclosed minority slice of the venue that will clear volume Robinhood can move at will, which makes OG.com a fourth supplier rather than an owned engine.
Perspective Coverage
4 publishersReality