Bernstein: Robinhood Prediction Markets to Add $1.7B Revenue, Exceed Crypto by 2028

The notable claim here is structural, not directional: a sell-side house now models prediction markets as a bigger revenue line than crypto at Robinhood, effectively reclassifying the company's growth story away from digital assets. That matters for how the platform is valued and for where retail trading flow is assumed to migrate. Whether prediction markets actually scale to that size, and whether crypto revenue recovers enough to keep the comparison meaningful, is the open question to watch.