Robinhood Surpasses Crypto Trading Revenue with Prediction Markets

Rising from the ashes of crypto trading woes, Robinhood's prediction markets have taken center stage, outpacing its own crypto trading revenue for the first time in Q2. The company raked in $156 million from event contracts and $100 million from crypto trading.

This milestone is significant, as it shows that Robinhood has diversified its business beyond just crypto trading. The broader quarter was strong, with total net revenue rising 32% year-over-year to a record $1.31 billion, diluted earnings per share reaching $0.62, and adjusted EBITDA climbing 35% to $741 million.

Rising from the ashes of crypto trading woes, Robinhood's prediction markets have taken center stage, outpacing its own crypto trading revenue for the first time in Q2. The company raked in $156 million from event contracts and $100 million from crypto trading.