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Robinhood’s prediction markets surpass crypto revenue as election activity expands

The Street reports Robinhood said third-quarter event contract revenue rose more than sixfold year over year to 173 million dollars, ahead of crypto revenue of 120 million dollars, as customers traded a record 16.4 billion event contracts, more than seven times the year-earlier count. Non-sports contracts, including elections, accounted for roughly 30 percent of prediction market activity, up from about 15 percent in the previous quarter, and Robinhood launched a dedicated U.S. Midterms Hub in September for congressional control and other election contracts.

Robinhood’s event contract revenue reached 173 million dollars in the third quarter, rising more than sixfold year over year, according to The Street. That put the business ahead of crypto, which generated revenue of 120 million dollars.

Customers traded a record 16.4 billion event contracts during the quarter, more than seven times the year-earlier count, The Street reported.

Non-sports contracts gain share

Non-sports contracts, including elections, represented roughly 30 percent of Robinhood’s prediction market activity. That was up from about 15 percent in the previous quarter, according to The Street.

Robinhood also launched a dedicated U.S. Midterms Hub in September, offering contracts on congressional control and other election outcomes. The launch accompanied a quarter in which non-sports activity accounted for a larger share of its prediction market business.

What it means for prediction markets

  • Event contracts have become a larger revenue contributor: Third-quarter revenue exceeded crypto revenue, alongside record contract volume.
  • The activity mix is shifting: Non-sports contracts’ share rose from about 15 percent to roughly 30 percent, though the figures do not isolate elections from other non-sports categories.
  • Election offerings have a dedicated destination: The September launch of the U.S. Midterms Hub brought congressional control and other election contracts into a focused offering.
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