TheBlock
Robinhood generated $156 million from its event-contract (prediction market) business in Q2, outpacing the $100 million it pulled in from crypto trading. The crypto figure marks a 38% decline from the same quarter a year earlier.
The platform posted a profitable quarter overall, with net income of $573 million, a 48% increase versus Q2 2025. The flip inside the trading verticals is the read: event contracts, a relatively new product line for Robinhood, are now contributing more revenue than the crypto books the company built its retail reputation on.
Why it matters
The mix shift reframes what "the broker" looks like. Prediction-market venues have absorbed a slice of the engagement that used to sit with token trading, and the revenue split confirms it is not just volume migration. With crypto trading down 38% YoY even as overall earnings climb 48%, the contract product is doing real margin work on Robinhood's income statement.
Market impact
Robinhood has been one of the publicly visible bridges between retail traders and crypto, so a $56M quarterly shortfall in crypto trading is the kind of print that draws attention. The fact that prediction markets more than filled the gap, with no guidance stress and a 48% earnings beat, suggests demand is rotating rather than collapsing. Watch next quarter's split for whether the contract line keeps widening or whether a crypto rebound reverses the order.
Frequently asked questions
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How much did Robinhood make from prediction markets in Q2?
Robinhood reported $156 million in revenue from its event-contract (prediction market) business in Q2, ahead of the $100 million from crypto trading.
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How did Robinhood's crypto trading revenue change year over year?
Crypto trading revenue was $100 million in Q2, a 38% decline from the same quarter a year earlier.
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What was Robinhood's overall net income in Q2?
Net income came in at $573 million, up 48% versus Q2 2025.
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Why is the prediction-market line significant for Robinhood?
Event contracts are now the largest contributor among Robinhood's trading verticals, out-earning the crypto desk that built the company's retail reputation.
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What does the revenue mix shift mean for the crypto market?
A 38% YoY drop in crypto trading revenue at a major retail broker confirms token demand is cooling. The offsetting growth of prediction markets indicates engagement is rotating rather than demand leaving the platform entirely.
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