Robinhood Markets (HOOD) shares rose more than 3% on Thursday. The company launched prediction markets for the 2026 FIFA World Cup.
Users can trade contracts on individual matches, tournament winners, and player performance. The launch marks a major milestone for the company's prediction markets business.
Contracts route through Rothera, a CFTC-licensed exchange and clearinghouse. Rothera is a joint venture between Robinhood and Susquehanna International Group.
The venture provides Robinhood more control over product offerings and customer experience. The company aims to leverage global interest in the tournament to attract and engage users.