Mizuho: Robinhood fit likely make pass Coinbase from prediction markets

Mizuho Securities survey show say dem ask 230 Robinhood and Coinbase users and find say Robinhood customers get stronger interest and plan to allocate more capital to prediction markets. About 50% of Robinhood respondents say dem go use new funds for prediction-market trades vs 37% for Coinbase. Users for both platforms dey trade prediction markets mainly around economic (81%), political (49%) and sports (47%) events and dem dey often add new capital rather than sell existing crypto holdings. Because of this behaviour gap, Mizuho raise im revenue outlook for Robinhood and cut Coinbase price target, saying risk be say prediction-market activity fit cannibalize Coinbase core spot crypto trading fees. For traders, the note mean possible shifts for volume and fee mix: Robinhood fit invest more for prediction-market features, promos and event offerings to monetise im retail base, while Coinbase fit dey more cautious to avoid diverting fee-bearing crypto volume. The coming quarters go show whether Robinhood broader, event-driven user base go convert to materially higher prediction-market revenue and whether Coinbase fit integrate prediction products without eroding spot trading fee income.