• Robinhood's JB Mackenzie said bitcoin, crude oil and gold contracts are among its fastest-growing prediction market products.
• Sports is still Robinhood's largest prediction market category, but price-volatility contracts are gaining share.
• Crypto contract tenors have shrunk from a week to a day to 15 minutes, which Mackenzie compared to zero-day options.
• The reporting gives no volumes, gold-specific figures or market-share numbers, so the scale of the shift is unverified.

Robinhood says traders are using its prediction markets for more than sports. At the NEXTPredict conference in New York on Thursday, JB Mackenzie, the company's vice president and general manager for futures and prediction markets, said bitcoin, crude oil and gold contracts are among its fastest-growing products, according to CoinDesk. Sports is still the largest category. Mackenzie did not give volumes in the reported remarks, so the claim is directional. It is a share-shift signal, not a sized one.

Price contracts are taking share from sports

Mackenzie said price-volatility contracts on bitcoin, crude oil and gold are starting to dominate the marketplace, even while sports remains Robinhood's largest product. The gains are relative: CoinDesk reports no volumes, gold-specific figures or market-share data. CoinDesk also reports that Robinhood's largest event contract in September was tied to the Federal Reserve's rate decision, not a sporting event. Macro and price outcomes already compete with sports for volume on the platform.

Fifteen-minute contracts resemble zero-day options

The most consequential detail is tenor. Mackenzie said crypto contracts began at a week, moved to a day and are now down to 15 minutes. He compared them to zero-day options, noting that both can produce rapid losses. A typical bitcoin contract asks whether the asset will trade above a set price at a specific time, so a trader takes a position without owning bitcoin. Shorter tenors mean more settlements per customer and more repeat activity.

The exchange structure sits behind the product

Robinhood's own disclosures say event contracts are offered by Robinhood Derivatives, LLC through KalshiEX LLC, ForecastEX, LLC or Rothera Exchange and Clearing LLC. CoinDesk says Robinhood entered the category through a partnership with Kalshi, which it describes as a federally regulated exchange. That means Robinhood distributes the contracts while the listing exchanges run the markets. Who bears regulatory scrutiny for short-dated crypto and gold contracts is a question to watch.

Prediction markets as a revenue line

Mackenzie said prediction markets could become Robinhood's fastest-growing segment, per CoinDesk. The company has 11 businesses each generating over $100 million in annual revenue, and Mackenzie said users who begin with event contracts often move on to stocks, crypto, futures, options and individual retirement accounts. The take-rate on short-dated contracts is the number to find in Robinhood's filings. Until it reports it, the revenue claim is management's projection, not a disclosed result.

What to watch

Three things would turn this signal into a measurement: contract volumes by category in Robinhood's regulatory or earnings disclosures, any change in how regulators treat 15-minute crypto and gold contracts, and whether loss rates on short tenors draw scrutiny. For operators, the useful read is that retail demand is moving toward short-dated price exposure. That puts Robinhood in competition with options and futures venues, not only with other prediction platforms.