Robinhood Posts Best Quarter Ever as Prediction Market and Robinhood Chain Take Off
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- Robinhood posted record Q2 revenue of $1.31 billion, up 32% year-over-year and beating Wall Street's $1.26 billion estimate, with net income of $573 million ($0.62/share) versus $386 million ($0.42/share) a year earlier.
- Event contracts — prediction market bets on real-world outcomes like Fed rate decisions and FIFA World Cup matches — generated $156 million in Q2, up more than 10x year-over-year and overtaking crypto as the company's fastest-growing revenue line.
- Crypto revenue slid 38% year-over-year to $100 million, with total crypto trading volume dropping from $66 billion in Q1 to $40 billion in Q2 — $18 billion on Robinhood's own app (down 35% YoY) and $22 billion through Bitstamp.
- Robinhood Chain went live on mainnet July 1, with tokenized stocks growing from $5 million to $60 million in daily volume in under two weeks and the chain clearing over $600 million in daily DEX volume within its first 30 days.
- Rothera, Robinhood's CFTC-licensed prediction markets joint venture with Susquehanna International Group, processed over 3.5 billion contracts since going live in late May, while an agentic trading feature launched May 27 has already accumulated nearly 100,000 accounts.
- Platform metrics hit records across the board: net deposits reached $21.7 billion, Gold subscribers grew to 4.8 million, the Gold Card crossed 1 million cardholders with $17 billion in annualized purchase volume, and thirteen Robinhood business lines now each generate over $100 million annually.
Why it matters: Prediction markets surged 10x to $156M as Robinhood's fastest-growing line while crypto revenue shrank 38% to $100M — a dramatic mix shift. With Robinhood Chain tokenized stocks hitting $60M daily volume in two weeks and 13 business lines now generating $100M+ annually, the platform's revenue base is diversifying well beyond its brokerage-and-crypto origins.
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