Prediction Markets trading drives Robinhood revenues up 23% to record $1.3 billion in Q2 2026

US neobroker Robinhood (NASDAQ: HOOD) closed out its strongest quarter ever in Q2 2026, posting total net revenues of $1.308 billion, up 23% from $1.067 billion in Q1 and 32% year over year. Net income reached $573 million, a 64% sequential gain and 48% jump from a year earlier. Diluted earnings per share came in at $0.62, up 48% from the year-ago period.

Transaction-based revenue rose 44% year over year to $776 million, led by prediction markets. Event-contract revenue hit $156 million, up more than 10x, while options revenue grew 29% to $342 million and equities revenue climbed 95% to $129 million. Cryptocurrency revenue was the laggard, falling 38% to $100 million as digital-asset trading volumes slowed. Net interest revenue advanced 9% to $389 million, and other revenue increased 54% to $143 million, helped by Trump Account service revenue and higher Robinhood Gold subscription fees.

Business highlights

CEO Vlad Tenev said the company’s product velocity is aimed at broadening ownership, while CFO Shiv Verma pointed to record volumes across equities, options and event contracts and a more diversified business. Robinhood said it now has 13 business lines generating at least $100 million in annualized revenue, with Robinhood Legend and the Credit Card hitting that threshold during the quarter. The firm also launched Rothera, a CFTC-licensed prediction-markets exchange and clearinghouse developed through a joint venture with Susquehanna International Group, and said over 3.5 billion contracts have traded on the platform to date.

Despite the record financials, Robinhood cut roughly 10% of its workforce near the end of Q2, resulting in one-time restructuring charges. Total operating expenses increased 33% year over year to $734 million, partly due to marketing, restructuring, and costs tied to Trump Accounts and Rothera. Adjusted EBITDA rose 35% to $741 million.

Customer metrics also improved. Funded customers reached 28.4 million, up 7% year over year, while total platform assets grew 32% to $369 billion. Net deposits were $21.7 billion in the quarter, and Robinhood Gold subscribers jumped 39% to 4.8 million. Average revenue per user rose 24% to $187, and cash and equivalents stood at $5.4 billion after a June convertible notes offering. The company repurchased $414 million of shares in Q2.

Looking ahead, Robinhood narrowed its 2026 outlook for adjusted operating expenses and share-based compensation to $2.675 billion to $2.775 billion, down from the prior $2.7 billion to $2.825 billion range, saying efficiencies would help fund new businesses Rothera and WonderFi. Robinhood also highlighted progress internationally, including the completed WonderFi acquisition and a capital markets services license from Singapore’s MAS.