TREE NEWS reports: Robinhood earned $173 million from event contracts last quarter, exceeding the $120 million it generated from crypto, the company said in its quarterly filing. Most of the growth in event contracts came from sports wagers, which let customers bet on the outcome of a game, an election or another event. The disclosure comes as exchanges such as Kalshi expand prediction markets.
Robinhood Earns $173M From Event Contracts, Topping Crypto Revenue
AI take
The milestone matters less for the dollar gap than for what it signals: Robinhood's fastest-growing revenue line now sits in event contracts, a category regulators have scrutinized far more than spot crypto. That sports wagers drive most of the growth concentrates the exposure in a segment facing state-by-state legal pressure, which is a different risk profile than crypto trading. Whether event contracts keep outearning crypto as Kalshi and other venues expand is the open question, and how regulators treat sports-based volumes will shape that trajectory.
Generated by AI for reference only.
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