Prediction markets are the new secret weapon for Coinbase (COIN) and Robinhood (HOOD) growth
CoinDesk
Cantor Fitzgerald identifies prediction markets as a key future growth driver for Coinbase and Robinhood despite recent declines in crypto trading volumes.Summary
Cantor Fitzgerald analyst Ramsey El-Assal notes that investors are looking past a weak first quarter for Coinbase and Robinhood, focusing instead on long-term growth drivers like prediction markets. While both companies face pressure from declining crypto prices and lower trading volumes, analysts remain optimistic, maintaining overweight ratings and raising price targets. However, the sector faces significant regulatory headwinds, as the New York Attorney General has challenged the legality of these prediction markets, raising questions that may ultimately require Supreme Court intervention.
(Source：CoinDesk)