Adam Roarty is a journalist covering sports betting, regulation, and industry innovation for CasinoBeats. His coverage includes tax increases in the UK, covering breaking stories in the ever-evolving landscape of US betting such as the...
Read Full BioRobinhood Markets will join the S&P 500, boosting its stock price as the company relaunches into prediction markets.
The company’s price jumped from $97.02 on Friday to $115.42 on Monday as news broke over the weekend that it will join the prestigious index effective September 22. The price continued to rise to $118.50 on Tuesday.
After going public in 2021, Robinhood initially underperformed, trading below its IPO price and ending 2023 at around $12.74. In 2025, the price is almost ten times that, and it has tripled since starting the year at under $40.
Robinhood told CasinoBeats they were thrilled at the recognition. Robinhood Chief Financial Officer Jason Warnick commented: “We are thrilled to be recognized by S&P Global as a new member of the S&P 500.”
“We remain focused on our mission to democratize finance for all – we’ve made great progress and there’s much more to do.”
CEO Vlad Tenev also posted on X that it was an exciting milestone for the company, but emphasized the work ahead.
Robinhood Social Plans Revealed at Annual Summit
Robinhood held its annual HOOD summit in Las Vegas this week, where it announced plans to launch Robinhood Social.
Tenev said he wants to transform into a “financial superapp” beyond basic stock trading. It “is no longer just where you trade,” he added.
The app will require users to include actual trades when posting, with positions updating automatically as prices move. The platform will display verified profit-and-loss statements, daily performance metrics, and trading histories. This will allow users to follow successful traders and keep current with their positions.
A post on X revealed that it plans to launch Robinhood Social next year.
Abhishek Fatehpuria, Robinhood’s Vice President of Product Management, stated: “We always thought it was something that we wanted to get into more of, especially with social and investing becoming more and more tied together.”
Robinhood Sues States & Relaunches Prediction Markets
The company has also expanded into football prediction markets in time for the new NFL season. The platform had taken a step back from sports markets, which it offers in partnership with Kalshi. It withdrew from markets after receiving cease-and-desist letters from several states.
However, last week it filed lawsuits against gambling regulators in Nevada and New Jersey, pre-empting any backlash from the launch of football markets.
In communication with CasinoBeats, the company continues to insist that its markets are legal. A spokesperson wrote in an email:
“Robinhood’s event contracts are regulated by the CFTC and offered through Robinhood Derivatives, LLC, a CFTC-registered entity, allowing retail customers to access prediction markets in a safe, compliant, and regulated manner.”
Reacting to news that tribal groups in California were demanding immediate action against Kalshi’s sports markets, the spokesperson added:
“As we’ve said previously, we intend to defend ourselves against these claims.”
The request for an injunction by the tribes is focused on Kalshi; however, the original lawsuit also includes Robinhood.
The legal challenges do not dissuade the company. Its inclusion in the S&P 500 is validation that it is moving in the right direction.
While it is included in the index, Caesars Entertainment dropped out. It signals the strength of prediction markets, which are increasingly rivaling more traditional gambling companies.
