Robinhood’s Prediction Markets Generate $173 Million in Q3, Outpacing Crypto Trading

Robinhood reported that event‑contract revenue reached $173 million in the third quarter of 2026, compared with $120 million from cryptocurrency trading. This marks the first time the platform’s prediction‑market business has eclipsed its crypto revenue, which fell 55% year‑on‑year. Across the first nine months of 2026, Robinhood earned $433 million from prediction contracts, a 66% quarterly increase from Q1 to Q3. The event‑contract revenue accounted for 12.1% of the company’s total net revenue of $1.424 billion in Q3. Coinbase, meanwhile, disclosed that its prediction‑market segment achieved an annualized net revenue of over $200 million, with 82% compound quarterly growth since launch. Gemini’s prediction‑market revenue was modest, at $524,000 for Q2 (1.2% of total revenue). These figures illustrate how prediction markets are becoming a significant, less volatile revenue stream for crypto platforms amid declining crypto trading income.