Robinhood hits $157 million in prediction markets revenue
Robinhood is widening its prediction-market lineup beyond sports, with crypto-linked event contracts already commanding an outsized share of activity on the platform.
CEO Vlad Tenev said as much, according to Zacks Investment Research, and he expects sports to eventually make up a minority of the business. The mix shift comes as the product’s scale becomes hard to ignore: event-contract revenue hit $157 million in the second quarter and contracts traded reached a record 13.6 billion.
Robinhood has previously called prediction markets its fastest-growing product line by revenue, and the second-quarter figures back that up, both revenue and volume climbed more than tenfold year over year.
In June, the company began routing event contracts to Rothera, described by Zacks as a CFTC-licensed exchange and clearinghouse independently managed through Robinhood’s joint venture with Susquehanna International Group.
Rothera generated $17 million of that quarter’s event-contract revenue. Robinhood has also added other routing relationships, including Crypto.com’s prediction-market infrastructure, per the Zacks report, as it builds out a broader ecosystem rather than leaning on a single venue.