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Robinhood’s Prediction Markets Surpass Crypto Revenue for First Time

Robinhood’s Prediction Markets Surpass Crypto Revenue for First Time

Robinhood’s prediction market business has officially outgrown its crypto division.

The brokerage reported $156 million in prediction market revenue for the second quarter, according to its earnings release Wednesday — compared with $100 million from crypto, a 38% year-over-year decline. It marks the first time prediction markets have generated more revenue than crypto since Robinhood launched event contracts.

Prediction market volume climbed to 13.6 billion event contracts in Q2, up 55% from 8.8 billion in the first quarter. The growth was driven in part by the World Cup, which Robinhood used as a launchpad for Rothera, its designated contract market joint venture with Susquehanna International Group. Rothera handled 2.1 billion…

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