By The Weekly Edge desk ·
Bernstein projected that Robinhood’s prediction markets could generate $1.7bn by 2028, Casino.org News reported. Analyst Gautam Chhugani raised his share-price target to $160, citing growth in the business.
The forecast projects a potential revenue contribution from Robinhood’s prediction-market operations.
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Linked through shared companies, regulators and people, or one step further through the graph.
Conflicting circuit decisions leave disputed whether federal law overrides state gambling rules for sports contracts.
The applications could enable Blockchain.com to seek approval to bring prediction markets and regulated trading to US users.
Nine prediction market platforms face Connecticut cease-and-desist orders over sports event contracts offered to residents.
The ruling subjects disputed Nevada sports event contracts to gambling rules, while DraftKings and Flutter shares gained.
The orders require nine prediction market companies to stop offering sports event contracts to Connecticut residents.
Crypto.com is participating in the expansion of Robinhood’s sports prediction offering.