Robinhood’s prediction-market revenue surged more than sixfold to $173 million in the third quarter, exceeding its cryptocurrency trading revenue as cryptocurrency sales fell 55% from a year earlier. The online brokerage lets customers trade stocks, options, cryptocurrencies, and event contracts. These contracts allow traders to take positions on the outcomes of events ranging from sports games to economic reports and elections. Robinhood’s third-quarter results showed that cryptocurrency trading revenue fell to $120 million, even as growth in options and prediction markets helped lift total revenue 12% to a record $1. 42 billion.
POLARIS INSIGHTS