Robinhood Markets (HOOD) bulked up its sports contracts offerings and added thousands of live events in economics, politics, and culture on its platform at its Yes/No event late Tuesday, as it seeks to capitalize on the popularity of its fastest-growing product line.
Robinhood (HOOD) stock rose 1.3% in Wednesday premarket trading.
The company known for its stock and crypto trading app added preset combos, custom combos, and events tied to individual players in pro football to its offerings.
“These tools give traders greater precision, control, and access to the events they care about most,” the company said in its announcement. “Expanding our prediction markets is an important step forward in our goal to enable anyone to trade, invest or hold any financial asset and conduct any financial transaction through Robinhood.”
In addition, the fintech introduced the next generation of its Robinhood Cortex AI feature, available to Robinhood Gold subscribers, will be embedded throughout the Robinhood app and will provide accuracy, personalization and make it easier to ask questions.
“It will be the interface for all of Robinhood, making it easier to act on decisions and get things done,” the company said.
Robinhood (HOOD) also unveiled portfolio digests, driven by Robinhood Cortex, which provides AI-powered, personalized insights tailored to a customer’s holdings.
Sports wagering stocks weren’t rocked by the event. DraftKings (DKNG) stock rose 0.3% and Flutter Entertainment (FLUT), owner of FanDuel, edged up 0.1%. MGM Resorts (MGM), tied to BetMGM, fell 1.1%.