Robinhood rises after Reuters report of Massachusetts probe into co's prediction marketplace
ReutersMar 24, 2025 6:27 PM
Shares of retail trading platform Robinhood HOOD.O rise 8.1% to $47.96
Massachusetts' top securities regulator is investigating HOOD's decision to launch a prediction-markets hub for betting on events like March Madness, Reuters reports
Event contracts let traders bet on specific outcomes, providing opportunities to profit from predictions in sports, entertainment, politics and the economy
HOOD says the event contracts it offers are regulated by the U.S. Commodity Futures Trading Commission and offered through CFTC-registered entities
13 out of 20 brokerages rate the stock "buy" or higher, 7 rate "hold" and their median PT is $70, as per LSEG data
Including session's moves, HOOD stock up 28.5% YTD
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