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Robinhood Sees Event Bets Surpass Crypto Revenue Amid Market Downturn

Guavy AI Editorial Team
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BTC
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Retail investors who once traded cryptocurrencies are now placing bets on events like the FIFA World Cup through Robinhood's prediction markets.

The company's event contracts have surpassed crypto revenue in the second quarter, with CEO Vlad Tenev attributing this growth to the consistent increase since March.

This shift towards prediction markets comes as Bitcoin's price fell to a two-year low, prompting customers to redirect their capital toward alternative trading products.

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