Robinhood says event contracts reach $400M annualized revenue and 1M users
Robinhood Markets disclosed that its event contracts product has surpassed 1 million customers and is generating more than $400 million in annualized revenue. The user milestone was first shared at the company's earnings report and later repeated at the Bernstein 42nd Annual Strategic Decisions Conference, where Robinhood appeared as a presenting company. The revenue figure emerged from a subsequent shareholder and analyst call, with a transcript published June 2. The product launched roughly 18 months ago and represents the retail brokerage's major push into prediction-market-style offerings. Both disclosures came through executive remarks at investor-facing events rather than formal SEC filings.
The $400 million annualized revenue run rate gives Robinhood a concrete benchmark to defend its event contracts unit against any future CFTC challenge, since the agency has historically weighed commercial viability in its review of novel derivatives products. Competitors now must show comparable scale or risk being sidelined in the next round of exchange registration decisions.
Robinhood's third major event-contracts disclosure this month — 1 million users, $415 million ARR, and an AI-agentic roadmap — frames it as the distribution giant forcing Kalshi and Polymarket to run a product-innovation race they may not win on brand recognition alone.