Robinhood prediction markets revenue tops crypto trading in Q2
Robinhood's prediction markets revenue surpassed its crypto trading revenue in the second quarter of 2026, according to Yahoo Finance reports. The online brokerage, listed on Nasdaq under ticker HOOD, launched prediction market contracts in 2024 and opened a dedicated prediction markets hub in March 2025. Trades on the platform were routed through market leader Kalshi. Robinhood may partner with Crypto.com to expand its prediction markets business and improve reliability, though regulatory risks remain as federal-state legal disputes continue in the U.S.
Robinhood's revenue flip makes prediction markets a platform-defining line, not an experiment. Management must now clarify supplier strategy before the next earnings call. The platform routes volume through Kalshi and its own Rothera joint venture. Dual sourcing already lets Robinhood negotiate harder on revenue share.
Kalshi faces margin pressure from two directions: Robinhood's contract demands and DraftKings building its own full stack through DKeX. Every analyst endorsement of vertical integration raises the cost of dependence on outside exchanges. The platform that offers Robinhood the best economics will set the template for how brokerages source prediction markets. Crypto's slump makes this revenue stickier than traders expected six months ago.