Robinhood Markets chief brokerage officer Steve Quirk has hailed the platform as a “giant” in the prediction market space.

Speaking at the Wolfe Wealth Symposium today, 12 November, Quirk insisted that Robinhood has barely scratched the surface of what was possible in the growing sector.

Robinhood offers prediction markets via a relationship with Kalshi, with more than 2.3 billion event contracts being traded on the platform in Q3.

This was surpassed in October alone, as Robinhood revealed in its Q3 earnings report that it handled 2.5 billion event contracts in the month.

Robinhood offers the Prediction Markets Hub on its platform, which features markets across sports, politics, entertainment and tech.

Quirk confirmed the firm has more than 1,000 markets available, having grown at breakneck speed since the US presidential election in November 2024.

When asked how many Robinhood users were engaging with prediction markets, Quirk noted the figure was still low, indicating runway for growth.

As per the platform’s Q3 report, $730m (£555.7m) in revenue was from designated transaction-based revenue, which includes prediction markets.

Quirk said: “It’s pretty small [percentage of Robinhood users]. The reason why it is small is because of how quickly this has all materialised.

“We haven’t really had time yet to have it be what I’d call really ingrained in the experience on Robinhood. Now, we’re working like mad to create an ecosystem which is better for customers and more discoverable.

“I think we have a huge amount of runway there with respect to getting deeper adoption. There are so many places you can go with event contracts.”

Speaking on Robinhood’s standing in the space, which also includes the likes of Crypto.com and soon-to-enter FanDuel and DraftKings, Quirk said the business was in an enviable position.

He added: “For us, we’re the giant already. We’re the first and we’re the giant. We’re the first scale player. The most important facet of this whole space is scale. That’s what we have. We have 26 million people. For every new entrant that’s an exchange or a market maker, we’re getting that call and building a bigger ecosystem.

“I don’t know that we’ve really thought about it from a barrier standpoint. We have 26 million people, and a small percentage are using it. If you look at what the hardest component is for anybody in this space, it’s to get the customer. We already have the customer.”

The post “We’re the giant already”, says Robinhood brokerage chief on prediction markets first appeared on EGR Intel.