Robinhood introduces next generation of Robinhood Cortex

Robinhood (HOOD) on Tuesday unveiled a suite of new products that will “help define the future of investing at Robinhood.” Chairman and CEO Vlad Tenev took the stage to announce several significant updates to Robinhood prediction markets, as well as an all-new Robinhood Cortex experience, personalized portfolio Digests, and more. “Robinhood is ushering in a new era in which AI and prediction markets will come together to change the future of finance and news,” said Robinhood CEO Vlad Tenev. “Since launching at the end of last year, prediction markets have become Robinhood’s fastest-growing product line by revenue ever, with 11 billion contracts traded by more than 1 million customers. But despite the early success, we’ve heard loud and clear that customers want access to more contracts and more advanced trading tools.” Customers will be able to trade preset combos for individual Pro Football games, giving them another way to turn their nuanced sports knowledge into an investing opportunity. These will be a combination of the outcomes, totals, and spreads within a single game. Like any event contract, these combos will pay $1 dollar, but only if each of the outcomes in the contract resolves correctly. “Early next year, we’ll add support for custom combos, which will allow customers to combine up to ten outcomes into one new contract across Pro Football games. Customers can track and trade individual Pro Football player performances like Anytime TD, Passing Yards, Receiving Yards, Rushing Yards, and more in real time, all in one place. Player contracts for more sports will be rolling out soon as well… We’re introducing the next generation of Robinhood Cortex, which will be seamlessly embedded throughout the Robinhood app. Robinhood Cortex is designed to remove the friction between idea and action, turning information into opportunity. It will be the interface for all of Robinhood, making it easier to act on decisions and get things done. The new Robinhood Cortex experience will begin rolling out in the first quarter of next year to Robinhood Gold subscribers.”