Prediction markets bring Robinhood $173 million as crypto revenue slumps
Summary
Prediction markets are emerging as a revenue source for crypto platforms. Robinhood reported $433 million in event-contract revenue for the first nine months of 2026, including $173 million in the third quarter—more than its $120 million in crypto revenue. Coinbase said its prediction-market business exceeded $200 million in annualized net revenue, with quarterly revenue growing rapidly and users also adding spot-trading volume. Gemini’s prediction revenue remained small at $524,000 in the second quarter. Other platforms have launched similar products, but disclosed few financial results. Robinhood cautioned that legal or regulatory changes could affect its ability to offer event contracts.
