Robinhood now makes more money from predicting the future than trading crypto
Summary
Robinhood reported $1.42 billion in third-quarter revenue, up 12% year over year, while crypto revenue fell 55% to $120 million and crypto trading volume dropped 38% annually. Its Ethereum-based Robinhood Chain generated $26 million in reported crypto revenue and more than $50 million in transaction fees, helping lift crypto revenue 20% from the prior quarter. Prediction markets grew to $173 million in revenue, surpassing crypto, while options revenue reached $399 million. Net income fell 14% to $476 million.
