Robinhood Markets will replace Caesars Entertainment in the S&P 500, according to Reuters.
It is a significant milestone for both the company and the broader U.S. financial technology sector. The move will raise Robinhood into the ranks of top U.S. companies, highlighting its role in reshaping retail investing.
Key Takeaways
- Robinhood’s addition is likely to increase stock demand as index-tracking funds rebalance.
- The shift indicates growing credibility for fintech firms, as Coinbase was added earlier this year.
- Robinhood’s market cap has more than doubled in 2025, now standing near $91.5 billion.
The change will take effect before markets open Sept. 22. Shares of Robinhood surged 7.3% in extended trading, reflecting market optimism. Robinhood previously gained fame by disrupting traditional brokerage models that attracted millions of young investors, especially during the pandemic.
Marketing platform AppLovin and mechanical construction firm EMCOR are also set to join the S&P 500, replacing MarketAxess and Enphase Energy. Following the announcement, AppLovin shares increased to 7%, while Emcor gained 2.2%.
Robinhood’s rise follows Coinbase’s entry into the S&P 500 in May, emphasizing a broader acceptance of fintech firms and digital asset platforms in the mainstream financial landscape.
Robinhood expands prediction markets to NFL, college football
Robinhood’s upcoming inclusion in the S&P 500 follows its August announcement that it would be adding professional and college football prediction markets to its trading platform. Customers are able to trade contracts tied to the outcomes of popular NFL and Power Four college games.
The company said contracts will be available daily between 8 a.m. and 3 a.m. ET, allowing participants to buy and sell positions during the season. Unlike traditional sports betting, Robinhood’s model facilitates peer-to-peer trading where prices are set by market activity.
“Adding pro and college football to our prediction markets hub is a no-brainer for us as we aim to make Robinhood a one-stop shop for all your investing and trading needs,” JB Mackenzie, vice president of futures and international, said in a statement.
