Robinhood Officially Added to S&P 500 Index in September

Robinhood Markets is officially heading to the S&P 500, replacing Caesars Entertainment. The change signals how far fintech firms have come in the U.S. market, placing Robinhood alongside the country’s largest companies and reinforcing its influence on retail investing.

Good to Know

• Robinhood replaces Caesars Entertainment in the S&P 500 on Sept. 22.
• Shares jumped 7.3% after the announcement.
• AppLovin and EMCOR are also joining the index.

The adjustment takes effect before markets open on September 22, according to Reuters. Investors quickly responded, sending Robinhood shares up more than 7% in after-hours trading.

The company, best known for transforming the brokerage model with commission-free trades, gained momentum during the pandemic as millions of younger investors signed up. Now, its presence in the index shows that the fintech industry is no longer sitting on the sidelines—it’s in the core of U.S. markets.

Robinhood isn’t alone in the reshuffle. AppLovin, a marketing platform, and EMCOR, a mechanical construction company, will also enter the S&P 500, replacing MarketAxess and Enphase Energy. Following the news, AppLovin’s stock climbed 7%, while EMCOR shares rose 2.2%.

The update comes only a few months after Coinbase earned a spot in the S&P 500 in May. Together, these inclusions underscore how fintech and digital asset firms are gaining wider acceptance within mainstream finance. For Robinhood, it’s both recognition and a springboard for further growth.

Prediction Markets Expansion

Robinhood’s rise also lines up with fresh product updates. In August, the company revealed that it was expanding its prediction markets to cover professional and college football. Customers can trade contracts tied to NFL and Power Four college games, with markets open daily from 8 a.m. until 3 a.m. ET.

Unlike traditional sportsbooks, Robinhood’s platform runs on peer-to-peer trading. Prices shift based on market activity, creating a different experience from fixed-odds betting. JB Mackenzie, the firm’s vice president of futures and international, put it plainly:

“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.”