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Robinhood Revenue Surges on Event Contracts Despite Crypto Decline

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Royalty-free financial trading platform Robinhood Markets reported record revenue in its second quarter, despite a decline in cryptocurrency trading.

The company's Q2 revenue rose 32% to $1.31 billion, with net income climbing 48% to $573 million.

Event contract revenue reached $156 million, more than ten times the year-earlier level and overtaking cryptocurrency transaction revenue for the first time.

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