Robinhood: Prediction Markets Hit 20% of Trading Revenue

Robinhood pulled in $156 million from event contracts last quarter, topping $129 million in equities and $100 million in crypto that fell 38 percent. Prediction markets now represent 20 percent of all trading revenue, up from 2 percent a year earlier, and the run rate already sits at $624 million ahead of NFL season. The shift follows the launch of Rothera, Robinhood's joint exchange with Susquehanna that routes World Cup and player-prop flow internally instead of through Kalshi. Fintech founders built the product because it monetizes speculation at scale, yet equity revenue and gold subscribers both rose sharply in the same period, showing some users migrate toward longer-term holdings.