There are too many prediction markets with “not a lot of differentiation” between them, and the sector is likely to enter a period of “consolidation” over the coming years, according to Robinhood CEO Vlad Tenev.
Tenev was speaking Tuesday at, in his words, “what might be the first outdoor earnings call in history,” after the stock trading app’s first-quarter results.
Tenev discussed the performance of Robinhood’s existing prediction market business, which allows users to buy Kalshi and ForecastEx contracts, as well as the company’s plans to launch its own exchange, Rothera, rather than simply routing all users to Kalshi or ForecastEx.
