Robinhood reported revenue of $1.31 billion for the second quarter of 2026, a 32% year-over-year increase, exceeding market expectations of $1.26 billion. While the company's overall trading business continued to grow, crypto revenue and trading volume declined, with growth shifting towards prediction markets, on-chain products, and new trading tools.
Market revenue is projected to rise to $156 million.
Looking at the revenue structure, transaction-related revenue grew 44% year-over-year to $776 million. Particularly noteworthy was the event contracts business, which involves trading based on the outcomes of real-world events. This segment generated $156 million in revenue in the quarter, representing a more than tenfold increase year-over-year, making it Robinhood's fastest-growing revenue source.
During the same period, options revenue was $342 million, up 29% year-over-year; equities revenue was $129 million, up 95% year-over-year. Robinhood CEO Vlad Tenev stated that the company achieved record trading volumes in equities, options, and prediction markets.
Crypto revenue drops to $100 million
In contrast, crypto revenue fell to $100 million, down from $160 million in the same period last year, a year-on-year decline of 38%. Crypto notional transaction volume was $40 billion, also down from $66 billion in the previous quarter.
Of these, $18 billion was traded within Robinhood's own app, a 35% year-over-year decrease; while $22 billion was traded through Bitstamp, a cryptocurrency exchange acquired last year. Previously, Robinhood's cryptocurrency revenue declined 34% quarter-over-quarter in the first quarter of this year, which also dragged down the company's stock price.
Robinhood Chain continues to expand
The company disclosed that, while announcing its earnings, progress on the Robinhood Chain public mainnet continues. Eligible users can already access tokenized equity products through Robinhood Wallet in over 120 countries and regions.
Earlier this year, Robinhood introduced Robinhood Chain as an Ethereum Layer 2 network for real-world assets and launched its public mainnet on July 1. The network currently supports tokenized stocks, ETFs, decentralized finance applications, and other Ethereum-compatible services.
According to data cited by the company, the chain has processed over 12 billion index transactions since its launch. Previous reports also indicated that Robinhood Chain recorded 138 million transactions in its first 30 days, with decentralized exchanges seeing daily trading volumes exceeding $600 million. Daily trading volume of tokenized stocks also surged from $5 million to $60 million in less than two weeks.
Two new businesses are being developed simultaneously.
Robinhood also highlighted two new products during its earnings call. One is the prediction market exchange Rothera, and the other is an AI-powered proxy trading feature for stocks, options, and plans to expand to crypto assets.
Rothera is a joint venture between Robinhood and quantitative trading firm Susquehanna International Group, and is licensed by the U.S. Commodity Futures Trading Commission. Since its launch in late May, the platform has processed over 3.5 billion contracts.
The AI-powered proxy trading feature launched on May 27 allows software to automatically execute trades with user authorization. Robinhood states that this feature currently covers nearly 100,000 accounts.
Additional information:Robinhood previously acquired Bitstamp to expand its international crypto business. The company also stated that it will launch new international crypto products in the future.
