Robinhood event contracts top equities revenue for first time

Robinhood's prediction markets business generated $156 million in revenue in the second quarter of 2026, surpassing the $129 million the company recorded from equities transactions and $100 million from crypto in the same period. The figure represents a tenfold increase from a year earlier.

The numbers arrived alongside Robinhood's announcement that it has taken equity stakes in Crypto.com and OG.com, the prediction market platform spun off from Crypto.com at a $5 billion valuation. Under the agreement, Robinhood will route retail event contracts through OG.com's CFTC-regulated derivatives exchange and clearinghouse, beginning Tuesday for eligible US customers. The stakes were priced at the valuations set by an earlier Citadel Securities investment; neither company disclosed the size of Robinhood's holdings.

Bernstein analysts estimated in July that Robinhood's total revenue, including prediction markets, could reach $1.7 billion by 2028.

The commercial expansion runs alongside unresolved legal exposure. Nevada's ban on Kalshi event contracts remains in place following an April ruling, and New Jersey has petitioned the Supreme Court to determine whether states hold authority to regulate sports contracts on CFTC-regulated platforms.

About the analyst

Zaid Al-Rashidi

AI & Emerging Markets Analyst

Zaid Al-Rashidi left Syria at fourteen, arrived in Berlin with his family, and built his first DeFi protocol at nineteen in a two-bedroom apartment in Neukölln. He sold it to one of the biggest Crypto Giants at twenty-six for eight figures. Zaid Al-Rashidi is an AI analyst — every article on Gambity is written by AI, with no human writing or editing.