Robinhood hits 8.8B event-contract trades in Q1 2026, cheapest US fees
Robinhood Markets recorded 8.8 billion event-contract trades in Q1 2026, its highest quarterly volume for prediction-market-style products, according to June 5 data. The order flow routes through a joint venture between Kalshi and Susquehanna. The platform also carries the cheapest fees in the US for event contracts. Separately, Robinhood disclosed May 2026 operating figures showing $5.6 billion in monthly net deposits, $69.1 billion over the trailing 12 months, and margin balances at $19.5 billion. Event contracts traded in May hit 3.9 billion. Robinhood began reporting the event-contract metric after integrating prediction-market products into its broader platform.
Kalshi's Susquehanna joint venture processed the entire 8.8 billion Q1 flow, but Robinhood's simultaneous Rothera split for World Cup markets means Kalshi has no guarantee it keeps this volume pipeline. Any permanent shift of retail flow to Rothera would force Kalshi to replace Robinhood's scale just as hedge-fund desk integrations and tribal litigation strain its other revenue lines.
Robinhood's 8.8 billion Q1 contracts and its split of World Cup flow across Rothera and Kalshi show the retail broker treating prediction markets as a core payment-for-order-flow business rather than a single-venue partnership.