Stocks
Robinhood cuts 10% of workforce while event contract volume rises 22%
Robinhood Markets disclosed on Tuesday that it will cut about 10% of its workforce. The company framed the layoffs as coming from a position of business strength. The announcement came alongside a note that event contracts traded on the platform were up 22% month-over-month.
Why this matters?
The 22% month-over-month jump in event contract volume shows Robinhood's prediction-market product is growing even as the parent company trims headcount, suggesting the unit may be a priority for capital-efficient expansion.
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