Robinhood Surpasses Crypto Trading with Prediction Markets

Roger Rothera's impact on Robinhood's Q2 earnings was significant.

The platform reported record revenue of $1.31 billion, a 32% increase from last year, with prediction markets generating $156 million in revenue, surpassing cryptocurrency trading for the first time.

Cryptocurrency trading revenue fell 38% year-over-year to $100 million, while total cryptocurrency trading volume reached $40 billion during the quarter. Transaction-based revenue climbed 44% year-over-year to $776 million.

Chief Financial Officer Shiv Verma said, 'The business is firing on all cylinders,' citing record revenues and increased volumes across equity, option, and event contract trades.