Robinhood prediction bets top crypto revenue, $173m vs $120m

Total revenue still rose 12% to $1.424bn, just shy of analyst forecasts, as options & equities grew too.

The hit

Robinhood’s prediction markets business now out-earns its crypto arm. The company reported $173m in prediction markets revenue for the third quarter, more than six times the year-earlier figure, against $120m in crypto transaction revenue, down 55% year on year, according to Robinhood’s October 27 results.

Why it matters

The swing shows Robinhood leaning harder into prediction contracts as retail crypto trading cools. Crypto fell to 8.4% of total revenue from roughly 21% a year ago, while options & equities both grew. For traders watching Robinhood as a bellwether, prediction markets look like the platform’s new growth engine, not a side bet.

The record

Prediction markets revenue	$173m, up over 6x year on year (Robinhood)
Crypto transaction revenue	$120m, down 55% year on year (Robinhood)
Total revenue	$1.424bn, up 12% year on year, below the $1.43bn forecast (Robinhood)
Crypto trading volume	$50bn across Robinhood & Bitstamp, down 38% (Robinhood)
Earnings per share	$0.51, below the $0.55 analyst estimate (Robinhood)

What happens next

Watch Robinhood’s next quarterly filing to see whether prediction markets revenue keeps outpacing crypto, & whether Robinhood Chain’s $26m net revenue starts offsetting the crypto decline.

Sources: Robinhood Crypto Revenue Drops 55%: Prediction Markets Surge

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