Robinhood is pushing its prediction-market business beyond sports into crypto, economic and other non-sports event contracts, a shift that comes as the segment’s revenue jumped more than tenfold year over year to $156 million in the second quarter of 2026, according to a report from Zacks Investment Research. Contracts traded hit a record 13.6 billion in the same quarter, also up more than tenfold, underscoring how quickly Robinhood’s prediction-market activity has scaled.
Robinhood management has previously called prediction markets its fastest-growing product line by revenue, and the timing of the pivot matters. Missouri recently ordered Robinhood and other operators to stop offering sports event contracts without a state sports-wagering license, and the company is separately appealing litigation in Michigan. In August, the Ninth Circuit affirmed the denial of preliminary relief in Robinhood’s Nevada case, prompting the company to petition the U.S. Supreme Court, per the Zacks report.
On the infrastructure side, Robinhood began routing event contracts in June to Rothera, a CFTC-licensed exchange and clearinghouse run through Robinhood’s joint venture with Susquehanna International Group. Rothera generated $17 million of Robinhood’s second-quarter event-contract revenue, and the company has added other routing relationships, including Crypto.com’s prediction-market infrastructure.
Why the Mix Shift Matters
CEO Vlad Tenev has said crypto-linked event contracts are already taking a disproportionate share of activity on the platform, and he expects sports to eventually make up a minority of overall prediction-market volume, Zacks reported. Diversifying away from sports wouldn’t eliminate Robinhood’s regulatory exposure, but it could reduce dependence on the one category drawing the heaviest state-level scrutiny.
Contracts tied to crypto prices and economic indicators also give customers another reason to keep opening the app, supporting Robinhood’s broader push to raise revenue per customer beyond stock and options trading.
A Crowded Field
Robinhood isn’t alone in chasing this growth. Interactive Brokers has built a unified interface spanning Kalshi, CME Group and its own ForecastEx platform, letting customers compare liquidity across venues. Coinbase, meanwhile, is folding prediction markets into its broader event-contract strategy, and its contracts and revenues rose 106% sequentially last quarter. As Robinhood, Interactive Brokers and Coinbase all chase the same retail audience, product breadth, liquidity and pricing will likely decide who wins the most engagement.
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