Bernstein forecasts Robinhood prediction markets to generate $1.7 billion by 2028, exceeding crypto revenue

Bernstein analysts predict Robinhood's prediction markets will generate $1.7 billion in revenue by 2028, surpassing the projected $1.6 billion in crypto-derived revenue for the same year. The forecast expects revenue to grow from approximately $650 million this year, accounting for roughly 18% of Robinhood's total projected $9.4 billion revenue in 2028. The prediction market growth is expected to contribute to a 13% quarter-over-quarter revenue increase in Q3 2026, driven by growing event contract volumes.