Robinhood Markets Considers Move Into Sports-Betting Contracts-February 2024-www.financetom.com

Robinhood Markets Considers Move Into Sports-Betting Contracts

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Robinhood Markets Considers Move Into Sports-Betting Contracts

Dec 5, 2024 5:54 AM

08:32 AM EST, 12/05/2024 (MT Newswires) -- Robinhood Markets ( HOOD ) is considering expanding into sports betting through event contracts, Chief Executive Vladimir Tenev said at the company's investor day event Wednesday, according to an S&P Capital IQ transcript.

"We're keenly looking into that space," Tenev said, according to the Capital IQ transcript. "Nothing to announce just yet, but it's so important to our customers and in culture that we're excited about it."

Tenev said the company could offer event contracts through its futures commission merchant license.

Shares of the online brokerage were up more than 8% in Thursday's premarket activity.

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