Robinhood Surprises: Predictive Market Revenue Outpaces Cryptocurrency in Q2

Its revenue from Robinhood's predictive market has for the first time surpassed its earnings from cryptocurrency and stock trading in the second quarter of 2026. The strong performance in this segment helped drive the company's trading-based revenue to a record US$ 776 million, a 44% increase compared to the same period last year.

Event-related contracts brought in US$ 156 million this quarter, becoming the main source of the brokerage's trading revenue. In comparison, cryptocurrency trading generated US$ 100 million, down 38% year-on-year, while stock trading contributed US$ 129 million.

This result further confirms the rapid expansion of predictive markets, which are increasingly favored by investors interested in trading probabilities of political, economic, and sports events.

In addition to the growth in trading revenue, Robinhood also reported total net revenue of US$ 1.31 billion, a 32% increase compared to the second quarter of 2025. Net profit also set a new record, reaching US$ 573 million, up 48% year-on-year.

"We achieved record revenue and reached new highs in trading volume for stocks, options, and event contracts, while continuing to gain market share," said the company's Chief Financial Officer Shiv Verma in an announcement accompanying the earnings release.

Despite a decline in revenue from this business segment, cryptocurrency-related activities remain robust. Robinhood stated that nominal trading volume for digital assets reached US$ 40 billion this quarter, with US$ 22 billion coming from Bitstamp, the brokerage acquired last year, highlighting the importance of this acquisition in strengthening its position in the cryptocurrency market.

Although several financial metrics exceeded expectations, Robinhood's stock price fell about 3% in after-hours trading, closing at US$ 86.89.

While the predictive market has driven revenue, the company also emphasized its strategic progress in blockchain.

In early July, Robinhood Chain, a layer 2 blockchain built on Arbitrum technology, officially entered mainnet operation. Since its launch, protocols like Uniswap have begun operating on this infrastructure, driving ecosystem expansion.

According to the company, the total value locked (TVL) on Robinhood Chain reached approximately US$ 325 million as of Tuesday.

During the earnings call, CEO Vlad Tenev stated that the adoption rate of the new network has exceeded expectations. According to him, decentralized exchanges operating on this blockchain have accumulated over US$ 12 billion in trading volume.

The executive also highlighted the rapid growth of the infrastructure.

"It was also the network that reached 100 million transactions the fastest. I think we have already surpassed 150 million transactions," Tenev stated.

Robinhood launched its predictive market business in October 2024, introducing contracts related to the U.S. presidential election. In March 2025, the company partnered with Kalshi and ForecastEx, provided by Interactive Brokers, to launch a dedicated platform for this segment. In June, the company expanded its strategy by launching Rothera, a CFTC-authorized derivatives exchange and clearinghouse operating through a joint venture with Susquehanna International Group.

The results for the second quarter indicate that Robinhood's diversification is beginning to reduce its reliance on cryptocurrency revenue; meanwhile, the company continues to invest in blockchain infrastructure and expand its presence in the digital asset market.

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