Can Robinhood's Crypto.com Deal Supercharge Prediction Markets' Growth?

StoneX Financial initiated coverage of Robinhood Markets with a Buy rating and $170 price target, implying 45% upside. Analyst Mark Palmer cited accelerating growth trends, including Q2 net revenue up 32% YoY to $1.31B. Crypto revenue dropped 38% but now represents 8% of net revenue. Palmer highlighted Robinhood's expansion into exchange platforms and blockchain infrastructure, with Robinhood Chain's launch and strong fee collections. Prediction markets also showed significant growth, with Q2 re

Robinhood (HOOD) reported accelerating revenue from its new blockchain platform, Robinhood Chain, with daily revenue reaching $4.01 million on September 2. Deutsche Bank raised its price target to $136 and earnings estimates, citing increased fee revenue. However, the sustainability of this growth remains uncertain, as the platform's long-term trajectory is still unclear.

StoneX Financial initiated coverage of Robinhood Markets (HOOD) with a Buy rating and $170 price target, citing growth potential from its diverse business mix. The company serves 28.4 million customers and operates in equities, crypto, options, and other services. Robinhood's expansion into financial infrastructure, including its blockchain network, was also noted. Prediction markets revenue reached $156 million in Q2. The target implies 45% upside.

Robinhood (HOOD) CEO Vlad Tenev defended tokenized stocks, stating public companies do not control third-party products referencing their shares. He cited property rights, issuer authority, and technology neutrality as key factors. AMC (AMC) CEO Adam Aron had criticized Robinhood's tokenized AMC shares. HOOD stock rose 1.3%, while AMC dipped 0.4%. Mizuho raised HOOD's price target to $140, citing expected AI IPOs boosting trading volumes.

Analysts at Canaccord Genuity and KBW maintained Buy ratings on Bank of Montreal (BMO), with price targets of $188.18 and C$295.00, respectively. Morgan Stanley and Scotiabank also gave Robinhood (HOOD) Buy ratings, with price targets of $150.00 and $136.00, respectively. Both stocks have consensus price targets suggesting upside potential.

The French National Gambling Authority (ANJ) is reviewing Robinhood's sponsorship of OGC Nice's football team, as prediction markets are considered unauthorized gambling in France. Robinhood's event contracts are limited to US residents, and the ANJ has not yet taken formal action. Robinhood reported $156 million in event-contract revenue for Q2 2026, surpassing equities and cryptocurrencies.