Mizuho: Robinhood poised for higher prediction market revenue than Coinbase

Robinhood is likely to generate more revenue from prediction markets than Coinbase, according to an analysis by global investment bank Mizuho Securities. CoinDesk reports that Mizuho's forecast is based on a survey of 230 users across both platforms. The survey found that approximately 50% of Robinhood users plan to allocate new capital to prediction market trading, compared to just 37% of Coinbase users. Mizuho stated this indicates a stronger propensity among Robinhood's user base to invest in this new market, suggesting a higher potential for revenue. Consequently, Mizuho has raised its revenue forecast for Robinhood. Conversely, the bank has lowered its price target for Coinbase, citing concerns that the prediction market service could cannibalize existing cryptocurrency trading activity.