Robinhood routes World Cup bets to Rothera; DB ups target

On June 4, Robinhood Markets announced it will route a portion of World Cup and Major League Baseball derivatives through Rothera, the company’s internal prediction exchange. Susquehanna will serve as the primary liquidity provider. Robinhood will shift some volume away from partner Kalshi and activate Rothera for high-volume World Cup events.

Deutsche Bank analyst Brian Bedell reiterated a buy rating on Robinhood and raised his price target to $98 from $88, implying about 11% upside from the June 4 close. In a research note, Bedell wrote, “We are adjusting our estimates for prediction market volumes and revenue following the June 4th launch of Rothera, a new prediction exchange managed with Susquehanna as the key liquidity provider.”

Robinhood reported more than 16 billion event contracts traded year-to-date in 2026, with roughly 4 billion contracts trading in May. Management indicated at an industry conference that May volumes were very strong and scheduled a full metrics release for June 9.

The Direxion Daily HOOD Bull 2X ETF (HODU) seeks to deliver 200% of Robinhood’s daily stock performance. The ETF offers amplified, short-term exposure to changes in Robinhood’s share price tied to prediction-market activity. Robinhood shares have fallen about 25% year-to-date.

Robinhood is completing its acquisition of WonderFi, which would add about 300,000 funded Canadian accounts to its customer base and could affect revenue in the back half of 2026.

HODU is a leveraged product designed to achieve twice the daily return of Robinhood stock and is intended for short-term trading. Over longer periods, leveraged ETFs can diverge from the returns of the underlying stock.