Robinhood's second-quarter revenue reached a record $1.31 billion, but the growth came from prediction markets rather than crypto. Event contracts brought in $156 million while crypto revenue fell 38% to $100 million. The company also pushed further into tokenized assets with the Robinhood Chain mainnet.
Robinhood posted record quarterly revenue of $1.31 billion in Q2, up 32% year-over-year and ahead of Wall Street's estimate of $1.26 billion. The company reported the results Wednesday, and its fastest-growing revenue line was not crypto: event contracts generated $156 million, up more than 10x year-over-year.
Net income came in at $573 million, or $0.62 per share, versus $386 million and $0.42 per share a year ago. Platform assets grew to $369 billion from $307 billion, quarterly net deposits increased to a record $21.7 billion from $17.7 billion, and Robinhood Gold subscribers rose to 4.8 million from 4.3 million.
Prediction markets drive transaction revenue
Transaction-based revenues rose 44% to $776 million, but the engine behind that number has shifted. Event contracts — contracts users buy and sell on real-world outcomes, from Fed rate decisions to FIFA World Cup matches — grew fastest, while options added $342 million, up 29%, and equities $129 million, up 95%.
According to Decrypt, CEO Vlad Tenev said on X: "We hit all-time highs in trading volumes across equities, options, and prediction markets"
Crypto revenue falls 38%
Crypto, by contrast, slid to $100 million — down 38% from the $160 million Robinhood posted in Q2 2025. Total crypto notional trading volume, the raw dollar value of trades executed, reached $40 billion for the quarter: $18 billion on Robinhood's own app, down 35% year-over-year, and $22 billion through Bitstamp, the crypto exchange it acquired last year.
That drag had already hit in Q1, when shares fell 6% on a 34% quarterly drop in crypto revenue. Crypto trading volume also dipped from $66 billion in Q1 to $40 billion in Q2.
Robinhood Chain adds tokenized stocks
Robinhood isn't stepping back from crypto and is focusing on its own chain, an Ethereum layer-2 network for tokenized real-world assets. The company launched the network's public mainnet on July 1 for tokenized stocks, ETFs, decentralized finance applications and other Ethereum-compatible services, with Stock Tokens available to eligible users in more than 120 countries through Robinhood Wallet.
As Decrypt reported last Sunday, the chain was already clearing over $600 million in daily decentralized exchange volume and logged 138 million transactions in its first 30 days. Tokenized stocks, real company shares wrapped as on-chain digital tokens, grew from $5 million to $60 million in daily volume in under two weeks.
Two new products headlined the call. Rothera, a CFTC-licensed prediction markets exchange Robinhood runs as a joint venture with the quantitative trading firm Susquehanna International Group, has processed over 3.5 billion contracts since going live in late May. Agentic trading, software that executes trades for a user without manual input per transaction, launched May 27 and already counts nearly 100,000 accounts.
Robinhood now counts 13 business lines each generating over $100 million annually.
Source: Decrypt
Trading involves risk.
Risk Disclaimer
