Robinhood's pivot to prediction markets is paying off, with event contracts now generating more revenue than crypto trading as the firm lists speculative bets on XRP reaching $3.75 by 2026.
Robinhood's event contract revenue surged to $156 million in Q2, surpassing its $100 million crypto transaction revenue for the first time. The brokerage is increasingly leveraging prediction markets, including speculative bets on XRP price milestones, as traditional crypto trading activity continues to decline.
Robinhood's crypto transaction revenue has declined for three consecutive quarters, while its event contracts have seen a tenfold year-over-year increase, driven by user demand for speculative bets on sports, politics, and asset price milestones.