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Robinhood’s prediction market revenue and crypto volumes jump

Robinhood reported record net deposits near $21.7 billion, while its event contracts rose to $156 million, driving the platform past $100 million in crypto-specific contract volume for the first time.

Reported · Written up by our desk · Market Structure

Robinhood reported its best quarter in company history, with net revenue of $1.31 billion, up 32% year over year, and net income of $573 million, up 48%.Diluted EPS came in at $0.62 versus $0.41 expected, and total platform assets rose to $369 billion, aided by net deposits near a record $21.7 billion, according to Decrypt.

While digital-asset revenue fell 38% from $160 million a year ago as retail trading volumes cooled, Robinhood said its prediction market business was a standout. Event contracts generated $156 million, up more than tenfold year over year, and for the first time the event contracts passed both crypto at $100 million and equities at $129 million.

Options revenue rose 29% to $342 million and equities rose 95%, helping offset the decline in digital-asset revenue, Decrypt reported. CEO Vlad Tenev framed the company as 13 separate business lines each targeting annualized revenue above $100 million.

Decrypt also noted that Robinhood highlighted its Robinhood Chain during the earnings call. Tenev said its decentralized exchanges have processed more than $12 billion in volume, and the network became the fastest ever to reach 100 million transactions, with total value locked around $325 million.

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