Robinhood posted record second-quarter net revenue of $1.31 billion, up 32% year-over-year, as activity across prediction markets, options, and equities helped offset a sharp decline in crypto income.<\/p>\n
The company\u2019s transaction-based revenue jumped 44% to $776 million during the quarter. Event contracts emerged as one of its fastest-growing businesses.<\/p>\n
In fact, revenue from event contracts reached $156 million, more than 10 times higher than a year earlier. The number of contracts traded also surged more than 10x to a record 13.6 billion.<\/p>\n
Speaking about the growth of prediction markets, Chairman and CEO Vlad Tenev said<\/a> that the space has grown steadily since March and expects the momentum to continue. Robinhood launched Rothera, a CFTC-licensed exchange and clearinghouse, in June through<\/a> its joint venture with Susquehanna International Group. The company said more than 3.5 billion event contracts had been traded to date.<\/p>\n Meanwhile, options remained<\/a> another major contributor, generating $342 million in revenue. This figure was up by 29% year-over-year. Equities revenue climbed even more sharply, rising 95% to $129 million as equity notional trading volumes reached a record $956 billion, an 85% increase from the same period last year.<\/p>\n The strong performance across these businesses came despite weaker cryptocurrency activity. Robinhood\u2019s crypto revenue fell 38% year-over-year to $100 million, while crypto notional trading volume stood at $40 billion, including $18 billion from its app and $22 billion from Bitstamp.<\/p>\n The online brokerage is pushing deeper into blockchain and digital assets internationally. It unveiled<\/a> the public mainnet for Robinhood Chain, an Ethereum Layer 2 network designed for financial services and real-world assets, while also announcing stock tokens for eligible users in more than 120 countries.<\/p>\n In May, it launched Agentic Trading, which allows customers to use AI-powered agents to trade equities, options, and crypto. Nearly 100,000 customers have opened Agentic Trading accounts so far, with more than $100 million in assets under custody.<\/p>\n During the quarter, the company expanded<\/a> its international footprint by closing its acquisition of WonderFi, a Canadian digital asset products and services platform. The move marked its official entry into the Canadian market.<\/p>\n Tenev also pointed to the broader expansion strategy, saying<\/p>\n \u201cWhether it\u2019s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner. Broad ownership is essential to a free, stable, and prosperous society.\u201d<\/p>\n The post Robinhood\u2019s Q2 Revenue Hits Record $1.31B as Prediction Markets Fuel 10x Surge in Event Contracts<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Robinhood posted record second-quarter net revenue of $1.31 billion, up 32% year-over-year, as activity across prediction markets, options, and equities helped offset a sharp decline in crypto income. The company\u2019s transaction-based revenue jumped 44% to $776 million during the quarter. Event contracts emerged as one of its fastest-growing businesses. In fact, revenue from event contracts […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-207888","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/207888"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=207888"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/207888\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=207888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=207888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=207888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Global Push<\/h2>\n