Robinhood‘s Rothera predictions exchange - Frequently asked investor questions

研报英文原文证据摘录

Robinhood‘s Rothera predictions exchange - Frequently asked investor questions

18 June 2026

Gautam Chhugani

+91 226 842 1416

Global Digital Assets gautam.chhugani@bernsteinsg.com

Robinhood Markets Inc Mahika Sapra

+91 226 842 1408

Rating mahika.sapra@bernsteinsg.com

Outperform Sanskar Chindalia

Price Target +91 226 842 1445

sanskar.chindalia@bernsteinsg.com

HOOD 130.00 USD

Harsh Misra

+91 226 842 1457

harsh.misra@bernsteinsg.com

Robinhood's Rothera predictions exchange - Frequently asked

investor questions

Robinhood has commenced its Rothera prediction markets exchange in partnership with

Close Date 17 Jun 2026

Susquehanna International Group (SIG). The vertical integration of DCM (Designated

HOOD Close Price (USD) 105.20

Contract Market) and FCM (Futures Commission Merchant) between Rothera and Robinhood

Price Target (USD) 130.00

makes this a disruptive new entrant in the booming prediction markets business. Robinhood’s

Upside/(Downside) 24%

unmatched distribution with ~13.5mn active traders provides it a strong edge in building

52-Week Range 153.86/63.52

a scalable predictions business with stronger unit economics. We answer key investor

SPX 7,420.10

questions on Rothera:

FYE Dec

1. Operating structure Div Yield NA

Market Cap (USD) (M) 94,778

2. Rationale for building a vertically integrated predictions platform EV (USD) (M) 100,390

Performance YTD 1M 6M 12M

3. Fee Structure Absolute (%) (7.0) 36.4 (9.2) 40.4

SPX (%) 8.4 0.2 10.4 24.0

4. Unit economics for Robinhood

Relative (%) (15.4) 36.2 (19.5) 16.3

5. Early volumes traction on Rothera Source: Bloomberg, Bernstein estimates and analysis.

Price Performance, 1YR6. Estimated revenue impact on HOOD

$180 8000

7500Investment Implications $160

We rate HOOD Outperform PT $130. $140 7000

$120