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Cantor Fitzgerald sees Robinhood (NASDAQ: $HOOD) and Coinbase (NASDAQ: $COIN) as the clearest public-market ways to play the growth of prediction markets, arguing that both companies already have the retail scale and trading infrastructure needed to turn event contracts into a meaningful business line. The firm’s view points less to a single product launch than to a broader shift in where prediction markets may end up finding their largest distribution.

Robinhood’s case is becoming easier to quantify. The company has said prediction markets have become its fastest-growing product line by revenue, with more than 9 billion contracts traded within a year of launch. 

Its event contracts are available through CFTC-regulated partner exchanges, and the in-app hub now spans categories including sports, economics, culture, crypto, companies, financials and world events. That gives Robinhood a fairly direct path to keep layering prediction markets into a retail product that already looks familiar to everyday traders.

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Coinbase is approaching the category from a different starting point but toward a similar destination. Its predictions platform offers regulated event contracts through Coinbase Financial Markets, a registered futures commission merchant, and the product already spans sports, crypto, politics, economics and company-related outcomes. 

Because that offering sits inside a broader ecosystem that includes spot trading, derivatives, payments and on-chain products, the platform has a built-in way to keep prediction markets tied to the rest of its consumer finance stack.

Taken together, the analyst call says something larger about how this market is evolving. Prediction markets are starting to look less like a standalone curiosity and more like a feature that can sit naturally inside large trading platforms with existing users, compliance rails and liquidity. 

For public-market investors, that may be the more practical takeaway: the strongest exposure could come not from niche pure plays, but from platforms already built to turn new trading behavior into recurring activity.

Robinhood Markets, Inc. (NASDAQ: HOOD) stock is currently trading at $78.66 U.S. per share, while Coinbase Global, Inc. (NASDAQ: COIN) stock is currently trading at $186.47 U.S. per share.