Jim Cramer · Wall Street · Federal Reserve (FED) · Decrypt
Robinhood CEO Confirms Crypto Will Outpaced Sports at Prediction Markets' Own Game
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Robinhood CEO Vlad Tenev thinks crypto is about to do to sports betting what Robinhood once did to Wall Street commissions: eat its lunch.
Key facts
- Contracts traded 4.7 billion times in August alone, roughly 15 times the volume from a year earlier
- Robinhood CEO Vlad Tenev thinks crypto is about to do to sports betting what Robinhood once did to Wall Street commissions: eat its lunch
- Speaking with Jim Cramer on CNBC's "Mad Money," Tenev said crypto-linked contracts are already grabbing an outsized slice of Robinhood's prediction markets business
- Robinhood then layered on Rothera, its own CFTC-licensed joint venture with trading firm Susquehanna, tested during this year's World Cup
Summary
Robinhood CEO Vlad Tenev believes crypto categories are taking a “disproportionate share” of Robinhood's prediction markets, and could push sports into the minority within a few years. Robinhood's event-contract revenue surged more than tenfold year over year to $156 million in Q2 2026. Contracts traded 4.7 billion times in August alone—about 15 times August 2025's volume. Speaking with Jim Cramer on CNBC's "Mad Money," Tenev said crypto-linked contracts are already grabbing an outsized slice of Robinhood's prediction markets business.