Robinhood reports $173 million from prediction markets as crypto revenue declines

Robinhood's third-quarter results revealed that its prediction markets generated $173 million, while cryptocurrency revenue fell to $120 million, a 55% decrease from the previous year. This shift highlights the growing importance of event contracts as a revenue source for Robinhood, contributing 12.1% to its total net revenue of 1424 million. In comparison, Coinbase reported over 200 million in annualized net revenue from its prediction markets, with a compound quarterly growth of 82%. Daily traders on Coinbase increased by more than 60% quarter over quarter. Meanwhile, Gemini's prediction-market revenue was reported at 524,000 for Q2, accounting for about 1.2% of its total revenue of 45 million. The first nine months of 2026 saw Robinhood earn a total of 433 million from event contracts, with quarterly revenue rising approximately 66% from Q1 to Q3. Other platforms like Crypto.com and Bybit have also expanded their prediction offerings, although revenue contributions remain undisclosed. Robinhood cautioned that legal challenges could impact its ability to continue offering event contracts.

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