Bernstein analysts report that Robinhood is planning to leverage its massive distribution advantage to capture market share in the prediction market sector. This strategic direction comes as competitors like Coinbase are reportedly preparing to make their own moves into the space in December. The move would position the retail trading giant to compete directly in the burgeoning event wagering sector, which has seen significant growth through platforms like Polymarket and Kalshi. Integrating prediction markets into Robinhood's widely used consumer app could significantly expand the accessibility and liquidity of event contracts for retail investors. The company's strategy appears to hinge on utilizing its existing user base to challenge incumbents quickly. [Update 1] New reports suggest that Robinhood is exploring the launch of its prediction market platform specifically following a rumored acquisition. This move is seen as a direct challenge to established players in the event wagering space, aiming to capture the growing retail interest in political and event-based betting.