What to know about Robinhood's new prediction market features

Scott Wapner (Host) 00:00.070

robin hood rolling out some new prediction markets features mackenzie sagalos is here with those details mac

Mackenzie Sigalos (Correspondent) 00:07.550

hey scott so robin hood users can now trade what are essentially parlays and profits on the NFL inside the app these are event contracts tied to game outcomes totals and spreads and they're also adding contracts on individual players like whether someone scores a touchdown or

Mackenzie Sigalos (Correspondent) 00:23.470

hits a yardage mark and they say early next year it will let users build custom combos it's stitched together up to ten outcomes across NFL games which pushes robin hood even deeper into territory that's traditionally been owned by sports books CEO vlad tenev is treating

Mackenzie Sigalos (Correspondent) 00:39.270

prediction markets as its next major growth engine after telling investors this is now its fastest scaling revenue line with roughly eleven billion contracts traded since launch and because prediction markets can expand nationally in a way that sports betting often cannot the

Mackenzie Sigalos (Correspondent) 00:54.510

race is really about liquidity and habit robin hood is trying to lock that in with a new joint venture with market maker susquehanna scott mackenzie

Scott Wapner (Host) 01:03.710

thank you mackenzie segal