Robinhood Prediction Markets Revenue Hits $173M in Q3, Overtaking Crypto

31 Oct 2026

31 Oct 2026, 14:15 UTC+01:00

Markets TradeReviewed News Desk

Robinhood prediction markets revenue reached $173 million in the third quarter of 2026, more than the $120 million the broker earned from crypto trading in the same period, according to an analysis of the latest earnings by CryptoSlate. Robinhood’s crypto revenue fell 55% from a year earlier, so event contracts are now doing real work for the company’s top line.

Event contracts overtake crypto at Robinhood

Robinhood’s event contract revenue has grown every quarter this year: $104 million in Q1, $156 million in Q2 and $173 million in Q3. That adds up to $433 million for the first nine months of 2026, and the Q3 figure equals roughly 12.1% of the company’s $1,424 million total net revenue. The crossover actually happened in Q2, when event contracts brought in $156 million against $100 million from crypto transactions.

Coinbase and Gemini: same trend, different scale

Coinbase said on October 29 that its prediction markets business passed $200 million in annualized net revenue. That is an annualized run rate for the latest quarter, not booked quarterly revenue, so it is not directly comparable with Robinhood’s number. Coinbase also reported more than 60% quarter-over-quarter growth in daily prediction traders, and CFO Alesia Haas described the revenue as less correlated with crypto volatility.

Gemini is much smaller here. Its Q2 filing showed $524,000 in prediction-market revenue, about 1.2% of total revenue of $45 million. Other venues, including Crypto.com, Bybit and Phemex, launched prediction products earlier in 2026 without disclosing revenue.

What it means for traders

• Exchange business models are shifting. With spot crypto volumes weaker, brokers are leaning on event contracts, tokenized stocks and derivatives to stay profitable.
• Regulatory risk is real. Robinhood itself warned that enforcement actions, litigation or changes in law could stop it from offering event contracts.
• Fees matter. If you trade across products, compare total costs, not just headline spot fees.

Our crypto exchange comparison ranks BingX first and OKX second on fees, derivatives and safety, and explains how we test exchanges. For background on Robinhood’s on-chain plans, see our report on Ripple and Robinhood’s RLUSD partnership.

This article is for information only and is not financial advice.

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Related reviews

• Bingx review
• Okx review

Sources

• CryptoSlate: Prediction markets bring Robinhood $173 million as crypto revenue slumps

News is for information only and is not financial advice. More crypto news