Robinhood says event contracts reach $400M annualized revenue and 1M users
Robinhood Markets disclosed on a shareholder and analyst call that its event contracts product has reached more than $400 million in annualized revenue, roughly 18 months after launch. The company separately said at the Bernstein 42nd Annual Strategic Decisions Conference that more than 1 million customers have used the product. In May, the platform traded 3.9 billion event contracts, up 22%, according to a separate report. The revenue figure was published in a Seeking Alpha transcript on Wednesday, June 2, and the user milestone was first shared at the company's earnings report. The disclosures mark the brokerage's most public accounting yet of its push into prediction-market-style offerings.
The $400 million run rate gives Robinhood the scale to justify building Rothera as a standalone clearing layer rather than sharing economics with Kalshi. Any sustained migration of retail flow to Rothera will force Kalshi to replace Robinhood's volume just as institutional market makers arrive for onshore venues.
Robinhood's latest disclosure joins recent coverage showing the brokerage doubling down on its own event-contract infrastructure rather than relying on Kalshi, after bringing Rothera in-house and routing World Cup contracts there while keeping some markets on Kalshi.