Robinhood Revenue Hits Record as Prediction Markets and Chain Take Off

Prediction markets let traders take yes-or-no positions on outcomes ranging from sports to Federal Reserve decisions, blending retail trading with federally regulated event contracts. Robinhood launched its prediction markets hub in March 2025 with Kalshi as an initial supplier, then added Interactive Brokers’ ForecastEx and Rothera, the CFTC-licensed exchange backed by Robinhood and Susquehanna International Group. Broadening that roster would reduce reliance on any one venue while putting Robinhood into increasingly direct competition with Kalshi, still one of the largest U.S. operators.

The Wall Street Journal reported on July 24 that Robinhood is discussing adding yes-or-no contracts from Crypto.com’s derivatives business to its app, though the talks may not produce a deal. Robinhood said it plans to keep working with multiple exchanges. The brokerage said more than 16 billion event contracts had traded on its platform in 2026, versus more than 12 billion in all of 2025. Crypto.com, which launched its standalone OG prediction market in February, said weekly activity had risen about 40-fold over the preceding six months.

Robinhood Markets is a major U.S. retail brokerage whose revenue depends heavily on stock, options and cryptocurrency trading, as well as interest income. Weakness in digital assets therefore directly reduces trading volumes and fees. The company has sought to diversify its revenue in recent years through prediction markets, Robinhood Gold and banking services, making its first-quarter performance an important test of that transition.

Robinhood reported first-quarter results on April 28, 2026, for the period ended March 31. Revenue rose 15% from a year earlier to $1.07 billion, below the $1.14 billion FactSet estimate, while earnings of $0.38 per share also missed the $0.39 forecast. Cryptocurrency transaction revenue fell 47% to $134 million, and the shares plunged more than 9% at one point in after-hours trading. Prediction-market event contract volume reached 8.8 billion.

Prediction markets, which allow users to trade on the outcomes of elections, economic data releases and other events, are emerging as a new way for trading platforms to increase engagement and revenue. Cantor Fitzgerald believes Robinhood and Coinbase are best positioned to benefit from the market’s growth because of their large retail customer bases and established trading infrastructure.

Cantor Fitzgerald’s latest research report identified Robinhood and Coinbase as the main beneficiaries of the prediction-market boom. High Roller Technologies also announced a partnership with Crypto.com to launch an event prediction platform in the United States. As of July 20, 2026, the companies had not disclosed a launch date, investment amount or revenue target.