Downtown Josh Brown

We now model prediction market contracts rising from 8.8 billion in Q1 to 13 billion by Q4.

or 44.8 billion for the year and $57 billion for fiscal year 2027.

Revenue from prediction markets is modeled at 464 million in fiscal 26,

570 million next year, that would be 9% of total revenue, but 19 to 20% of transaction revenue, meaning it's not like earning money on cash or something stupid like margin loans.

This is like actual action.

So Dan says that is no longer immaterial.

In our view, investors should see prediction markets as a new engagement layer.

Do you think the NBA playoffs and finals were a big boost to prediction markets, not just at Robinhood, but everywhere?

I was in Las Vegas.

I was at the Wynn Encore or...

So the regular win, maybe the regular win sports book for game one.

I was in Vegas.

I had to go to the airport, but like I caught most of game one before I left.

I walked up to the window in the sports book to place a bet on the Knicks to win.

And they said the game started five minutes ago.

I'm like, all right, that's great information.

Thank you for that.

I'm aware.

She's like, no, no, no, you don't understand.

There's no in-game bet in the sports book.