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Robinhood Posts Best Quarter Ever as Prediction Market and Robinhood Chain Take Off
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- DeepHorus
Robinhood posted its best quarter ever on Wednesday, with record Q2 revenue of $1.31 billion, up 32% year-over-year and beating Wall Street's estimate of $1.26 billion. The company's growth was fueled by a surge in prediction-market trading and the launch of Robinhood Chain, even as crypto trading revenue continued to decline. CEO Vlad Tenev celebrated the results on X, noting all-time highs in trading volumes across equities, options, and prediction markets.
Net income reached $573 million, or $0.62 per share, compared to $386 million and $0.42 per share a year earlier. Platform assets grew to $369 billion from $307 billion, while quarterly net deposits rose to $21.7 billion from $17.7 billion. Robinhood Gold subscribers also increased, climbing to 4.8 million from 4.3 million in the prior year.
Transaction-based revenues jumped 44% to $776 million, but the composition shifted dramatically. Event contractsâprediction-market bets on real-world outcomes like Fed decisions and FIFA matchesâgenerated $156 million, up more than 10x year-over-year. Options contributed $342 million (up 29%) and equities added $129 million (up 95%). Crypto, by contrast, slid to $100 million, a 38% drop from $160 million in Q2 2025.
Total crypto notional trading volume came in at $40 billion for the quarter: $18 billion on Robinhood's own app (down 35% year-over-year) and $22 billion via Bitstamp, the exchange acquired last year. This marked a sharp decline from $66 billion in Q1. The company is not retreating from digital assets, however, and is doubling down on its own infrastructure.
Robinhood Chain's public mainnet went live on July 1, with tokenized stock access for eligible users in over 120 countries via Robinhood Wallet. The Ethereum layer-2 network has already processed 138 million transactions in its first 30 days and cleared over $600 million in daily decentralized exchange volume. Tokenized stock volumes grew from $5 million to $60 million daily in under two weeks, and the chain has seen over $12 billion in index volume.
Two new products headlined the earnings call: Rothera, a CFTC-licensed prediction markets exchange and joint venture, and the first version of agentic trading for equities, options, and soon crypto, allowing AI agents to trade on Robinhood. Tenev emphasized the chain's rapid growth, saying: "The Robinhood Chain a few weeks ago, the first chain purpose-built for real-world assets, now with over 12 billion index volume since launch."
Looking ahead, Robinhood plans to expand international crypto offerings and continue building on-chain financial services. With prediction markets becoming its fastest-growing revenue line and the chain attracting significant developer activity, the company is positioning itself at the intersection of retail trading, decentralized finance, and event-based speculation.
