Doubling down on what has become its fastest growing business line, US neobroker Robinhood (NASDAQ:HOOD) unveiled a number of additions and changes it is making to its prediction Markets (or Event Contracts) lineup. Most of the additions center around betting on NFL Football games and players, in a variety of parlays and prop bet combinations.

At the company’s Robinhood Presents: YES/NO event in San Francisco, Robinhood Chairman and CEO Vlad Tenev took the stage to announce several significant updates to Robinhood prediction markets, as well as an all-new Robinhood Cortex experience, personalized portfolio Digests, and more.

“Robinhood is ushering in a new era in which AI and prediction markets will come together to change the future of finance and news,” said Robinhood CEO Vlad Tenev.

Prediction markets expanded 

Since launching at the end of last year, prediction markets have become Robinhood’s fastest-growing product line by revenue ever, with 11 billion contracts traded by more than 1 million customers. But despite the early success, Robinhood said it has heard loud and clear that customers want access to more contracts and more advanced trading tools.

Since Thanksgiving, the company has made significant headway in addressing these requests. Robinhood has made notable improvements to its prediction markets hub, launching limit orders, dollar-based trading, 24/7 access, a live sports contract hub, and a new event detail page for a number of sports. the company has also listed thousands of live events across economics, politics, sports, culture and more. 

Now, Robinhood said it is taking another big step forward with: 

• Preset Combos: Customers will be able to trade preset combos, better known in the sports betting world as parlays, for individual Pro Football games, giving them another way to turn their nuanced sports knowledge into an investing opportunity. These will be a combination of the outcomes, totals, and spreads within a single game. Like any event contract, these combos will pay $1 dollar, but only if each of the outcomes in the contract resolves correctly.

• Custom Combos: Early next year, Robinhood plans to add support for custom combos, which will allow customers to combine up to ten outcomes into one new contract across Pro Football games.

• Player Contracts: Starting today, customers can track and trade individual Pro Football player performances – known as prob bets – like Anytime TD, Passing Yards, Receiving Yards, Rushing Yards, and more in real time, all in one place. Player contracts for more sports will be rolling out soon as well.

Robinhood said that these tools give traders greater precision, control, and access to the events they care about most. Expanding prediction markets is an important step forward in the company’s goal to enable anyone to trade, invest or hold any financial asset and conduct any financial transaction through Robinhood. 

Robinhood Cortex update

Robinhood Cortex is the company’s AI-powered investing assistant available exclusively to Robinhood Gold subscribers. Since launch, Robinhood Cortex has been the brain powering its AI features, providing real-time analysis and insights to help customers stay up to date on the latest market moving news.

Now the company is introducing the next generation of Robinhood Cortex, which will be seamlessly embedded throughout the Robinhood app. Robinhood Cortex is designed to remove the friction between idea and action, turning information into opportunity. It will be the interface for all of Robinhood, making it easier to act on decisions and get things done. 

Here’s what sets Robinhood Cortex apart:

• Accuracy – To ensure accuracy, Robinhood Cortex’s responses are sourced from high-quality, trusted inputs including real-time market data, analyst reports, and research reports used by many of the leading Wall Street investment firms. 

• Personalization – Robinhood Cortex will break down what’s moving in a customer’s portfolio, connecting real-time news, market shifts, and analyst insights to their individual holdings. It explains why each development matters to them, in plain English.

• Action – Robinhood Cortex will empower customers to ask and act with greater ease. Using plain English, they can tell it to buy and sell equities and crypto, conduct market research, explore event contracts, and adjust their account settings, all while keeping them in control.

The new Robinhood Cortex experience will begin rolling out in the first quarter of next year to Robinhood Gold subscribers. A Robinhood Gold membership costs $5 a month or $50 annually.

Portfolio Digests

Earlier this year Robinhood launched stock and crypto Digests to help customers understand why a particular asset was moving. But the company said it knows customers still want to understand what the driving forces are behind their specific portfolio’s movement on any given day. Introducing portfolio-level Digests powered by Robinhood Cortex, which provides AI-powered, personalized insights tailored to a customer’s holdings. Delivered in simple, straightforward language, they help explain what’s happening today and prepare customers for tomorrow. The new personalized portfolio Digests will:

• Summarize customers’ top portfolio drivers, showing top return driver, top mover, and more

• Surface upcoming events tied to specific holdings such as earnings and stock splits

• Provide benchmark comparisons like the S&P 500

• Make Wall Street insights available to everyday investors without needing to leave their investing home screen

It will work across asset classes and refresh multiple times a day, or whenever news breaks, to keep the most relevant information at customers’ fingertips. The new Digests experience will work across self-directed accounts. A similar experience is available for managed accounts, which includes daily portfolio summaries, and top portfolio drivers and detractors.

Personalized portfolio Digests start rolling out to Robinhood Gold subscribers early next year.