Robinhood Posts Best Quarter Ever as Prediction Market and Robinhood Chain Take Off

Robinhood reported second-quarter earnings Wednesday and posted record quarterly revenue of $1.31 billion in Q2, up 32% year-over-year, beating Wall Street's estimate of $1.26 billion. The company is expanding into prediction markets and crypto products, including Robinhood Chain, even as crypto trading revenue and volumes declined from the previous quarter.

The company’s net income came in at $573 million—or $0.62 per share—versus $386 million and $0.42 per share a year ago. Platform assets grew to $369 billion from $307 billion, quarterly net deposits increased to $21.7 billion from $17.7 billion, and Robinhood Gold subscribers rose to 4.8 million from 4.3 million.

"We hit all-time highs in trading volumes across equities, options, and prediction markets," CEO Vlad Tenev said on X.

Transaction-based revenues rose 44% to $776 million, but the engine behind that number has shifted. Event contracts—prediction markets where users buy and sell contracts on real-world outcomes, from Fed rate decisions to FIFA World Cup matches—generated $156 million, up more than 10x year-over-year. Options added $342 million, up 29%, and equities $129 million, up 95%.

Crypto, by contrast, slid to $100 million—down 38% from the $160 million Robinhood posted in Q2 2025. That drag had already hit in Q1, when shares fell 6% on a 34% quarterly drop in crypto revenue. Total crypto notional trading volume—the raw dollar value of trades executed—was $40 billion for the quarter: $18 billion on Robinhood's own app (down 35% year-over-year) and $22 billion through Bitstamp, the crypto exchange it acquired last year. The trading volume for crypto dipped from $66 billion in Q1 to $40 billion in Q2.

The company isn't stepping back from crypto, and is focusing on its own chain. Alongside the results, Robinhood highlighted the now-live public mainnet for Robinhood Chain and Stock Tokens available to eligible users in more than 120 countries through Robinhood Wallet.

"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,” Tenet said on X .The rapid growth and developer activity on the chain has been awesome to see, plenty more to come."

Robinhood first introduced the public testnet for Robinhood Chain earlier this year, describing it as an Ethereum layer-2 network for tokenized real-world assets. The company launched the network's public mainnet on July 1, making it available for tokenized stocks, ETFs, decentralized finance applications, and other Ethereum-compatible services.

Like other Ethereum L2s, the idea is to have a secondary blockchain that settles on Ethereum's main network but runs faster and cheaper. As Decrypt reported last Sunday, the chain was already clearing over $600 million in daily decentralized exchange volume and logged 138 million transactions in its first 30 days. Tokenized stocks—real company shares wrapped as on-chain digital tokens—grew from $5 million to $60 million in daily volume in under two weeks.

Two new products, though, headlined the call. "Two new launches I'd like to highlight. One, Rothera, our new prediction markets exchange and joint venture. And two, the first version of agentic trading with equities, options, and soon crypto on Robinhood available to your AI agents," Tenev said.

Rothera is a CFTC-licensed prediction markets exchange Robinhood runs as a joint venture with Susquehanna International Group, a major quantitative trading firm. It has processed over 3.5 billion contracts since going live in late May. Agentic trading—software that executes trades on a user's behalf automatically, without requiring manual input per transaction—launched May 27 and already counts nearly 100,000 accounts.

Net deposits hit a record $21.7 billion. Gold subscribers reached a record 4.8 million. The Gold Card crossed 1 million cardholders with $17 billion in annualized purchase volume. Thirteen Robinhood business lines now each generate over $100 million annually.