Robinhood reported a record $1.31 billion in revenue for the second quarter of 2026, driven by a surge in trading activity and the rapid growth of its prediction-markets business. Transaction-based revenues rose 44% year over year to $776 million, the company announced Thursday.
Revenue from event contracts (prediction markets) in Q2 2026, up more than 10 times from a year earlier.
Event contracts, or prediction markets, generated $156 million in Q2 2026 — a more than tenfold increase year over year and a 50% sequential jump from the first quarter, according to the company. Customers made roughly 55% more wagers on these contracts compared with Q1, and nearly 2 million people have used prediction markets, CFO Shiv Verma said. The company noted that prediction-market customers are more likely to hold a Robinhood retirement account.
Options trading fees rose 29% to $342 million, and equities trading fees climbed 95% to $129 million. Crypto trading revenue, however, slid 38% to $100 million, as total crypto notional volume on the Robinhood app dropped 35% year over year to $18 billion. Another $22 billion in crypto volume came through Bitstamp, bringing the combined total to $40 billion in Q2, down from $66 billion in Q1.
Robinhood also launched several new initiatives. Its Ethereum layer-2 network, Robinhood Chain, went live on July 1 and has cleared over $600 million in daily decentralized exchange volume, logging 138 million transactions in its first 30 days. Tokenized stock daily volume grew from $5 million to $60 million in under two weeks on the chain. Additionally, the company's agentic trading feature, which launched on May 27, now has nearly 100,000 accounts.
A key growth driver was Rothera, a US Commodity Futures Trading Commission (CFTC)-licensed prediction markets exchange run as a joint venture with Susquehanna International Group. Rothera went live in late May 2026 and has processed over 3.5 billion contracts. CEO Vlad Tenev described the World Cup as 'really a proof of concept' for Rothera, adding, 'We're looking to scale that rapidly and make it much bigger.' Robinhood began routing some event contracts through Rothera during the quarter, while continuing to use Kalshi and other platforms.
We're looking to scale that rapidly and make it much bigger.
Net deposits in Q2 2026, reported as $21.7 billion by Robinhood and approximately $22 billion by another source.
Net deposits hit a record range of $21.7 billion to $22 billion in Q2 (Robinhood reported $21.7 billion; another source cited $22 billion, possibly due to rounding). Gold subscribers reached 4.8 million, and the Gold Card crossed 1 million cardholders with $17 billion in annualized purchase volume. Robinhood reported net income of $573 million, or $0.62 per share; adjusted for an accounting change, earnings per share were $0.48, exceeding the $0.45 analyst forecast. The margin book rose 127% year over year, while net interest revenue increased 9%.
Total operating costs rose 33% year over year to $734 million, though Robinhood trimmed its full-year expense guidance by $50 million to $30 million. Robinhood shares rose 1% early Thursday following the earnings report, after having fallen roughly 20% in 2026 through Wednesday's close. The company lowered commissions on prediction-market bets to gain market share, and now has 13 business lines each generating over $100 million annually.