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Robinhood event contracts revenue rises more than sixfold as crypto revenue falls by more than half
Robinhood's third quarter 2026 results set prediction market revenue against a sharp drop in crypto, and net income fell 14%.
This article is general information, not financial, investment or insurance advice. Check the details with a qualified adviser before you decide.
The quarter in brief
Robinhood reported third quarter 2026 results on October 27, with event contracts revenue rising more than sixfold while cryptocurrency revenue fell by more than half [1]. The figures matter to anyone who trades crypto or prediction markets on the platform.
Total net revenues rose 12% year over year to $1.42 billion [1]. Net income fell 14% to $476 million [1].
Event contracts and crypto side by side
Event contracts generated $173 million in revenue, up more than sixfold [1]. Contracts traded rose more than sevenfold to a record 16.4 billion [1].
Cryptocurrency revenue fell 55% year over year to $120 million [1]. Crypto notional trading volumes dropped 38% to $50 billion [1].
Crypto volumes on the Robinhood app fell 48% to $21 billion [1]. The two businesses moved in opposite directions in the same quarter [1].
How the prediction markets business was built
Robinhood launched its prediction markets hub in March 2025, allowing users to trade on political, economic and sports outcomes [1]. It first built the offering through Kalshi, the CFTC-regulated event contract exchange, and later took minority stakes in Crypto.com and its prediction markets business, OG [1].
CEO Vlad Tenev said in December of the prior year that Robinhood was at the very beginning of a prediction market supercycle, when it added NFL player contracts and parlay-style combos [2].
Regulatory and crypto-side developments
Connecticut state regulators issued cease-and-desist orders to several prediction market platforms, Robinhood among them, arguing that sports-linked contracts resembled unlicensed sports betting [1].
On the crypto side, Robinhood received authorization from the Dubai Financial Services Authority covering trading and custody across all ten DFSA-approved asset classes, including crypto [1]. It also announced a deal with Ripple that brings the RLUSD stablecoin to Robinhood Chain and Bitstamp, with an in-app rollout planned later this year [2].
A caveat on Robinhood Chain fees
Robinhood Chain's fees reflect on-chain activity and are not the same as Robinhood's reported crypto transaction revenue, and the company did not disclose how much of the chain fees it recognized as revenue [3].
What this means for you
If you trade prediction markets on Robinhood, the record 16.4 billion contracts traded show how much activity the hub now handles [1]. Connecticut regulators have issued cease-and-desist orders to platforms including Robinhood over sports-linked contracts [1].
If you trade crypto on the Robinhood app, volumes there fell 48% to $21 billion [1]. When you read the company's crypto revenue, keep in mind that Robinhood Chain fees are separate from reported crypto transaction revenue [3].
Sources
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