Mackenzie Says Robinhood’s Bitcoin, Gold and Crude Oil Contracts Grow Fastest

JB Mackenzie, Robinhood’s vice president and general manager of futures and prediction markets, said Oct. 22 that Bitcoin (BTC), gold and crude oil contracts were its fastest-growing prediction-market products.

Mackenzie made the remarks at NEXTPredict in New York. Sports remains Robinhood’s largest prediction-market category, he said. The platform’s largest event contract in September concerned the Federal Reserve’s interest-rate decision, a topic covered in Robinhood’s September contract ranking.

Event contracts let customers take Yes-or-No positions on defined outcomes. Standard prices range from $0.01 to $0.99 and reflect the implied probability of an outcome; a correct position pays $1 per contract. Robinhood entered the market through a partnership with Kalshi and added event contracts to its trading platform.

Crypto contracts have moved from weeklong settlement to a day and now can settle in as little as 15 minutes, Mackenzie said. He compared the fastest contracts with zero-day options, noting that the products have different structures but can both bring rapid losses. He said faster settlement carries greater risk.

Mackenzie said some customers who start with event contracts soon move into stocks, crypto, futures and options, while others discover Robinhood’s individual retirement account feature. He said the company has 11 businesses with annual revenue above $100 million and that prediction markets may become its fastest-growing business.