Robinhood Chain Growth | Bloomberg Businessweek

Bloomberg Audio Studios podcasts radio news. — You're listening to Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg Radio. — An interesting take from analysts at Bernstein and Piper Sandler this week. They argue that Robin Hood's revenue from prediction markets is set to overshadow that from cryptocurrency trading starting as soon as the second quarter.

Yeah, that's pretty significant. Yeah, I mean we're talking so much more about you think about it uh prediction markets uh the establishment financial firms uh increasingly looked at it. It's something we actually talked about uh with uh the CEO of Charles Schwab yesterday, Rick Worster.

Yeah. Joan Kerrot is here with us now. He's senior vice president and general manager of crypto uh over at Robin Hood. He's also runs the international business as well. He joins us here in the Bloomberg Interactive Brokers Studio. Welcome. Welcome. How are you?

Good. Good. How have you been?

Yeah, we've been good. It's good to have you back here in New York. Welcome back.

We've got this decline in in crypto trading and I think many people would argue it's it's related to the price action that we've seen since October, but at the same time a catalyst in prediction markets with the World Cup. I'm just wondering how you're thinking about this this universe of of these two different elements of of trading and how that affects your users like are they doing less on crypto and more with prediction markets?

Uh we haven't seen that in our data when we look at our customer engagement on the platform. uh we do have contracts on the prediction market platform that are related to crypto index price and crypto actions. Uh but overall I think it's just one of the cycle where we see a bit uh the sentiment in crypto a little down and overall we are just focusing on building new tools and new features that people can utilize when the the sentiment goes up.