Robinhood posted record second-quarter net revenue of $1.31 billion, up 32% year-over-year, as activity across prediction markets, options, and equities helped offset a sharp decline in crypto income.

The company’s transaction-based revenue jumped 44% to $776 million during the quarter. Event contracts emerged as one of its fastest-growing businesses.

In fact, revenue from event contracts reached $156 million, more than 10 times higher than a year earlier. The number of contracts traded also surged more than 10x to a record 13.6 billion.

Prediction Markets Steal the Spotlight

Speaking about the growth of prediction markets, Chairman and CEO Vlad Tenev said that the space has grown steadily since March and expects the momentum to continue. Robinhood launched Rothera, a CFTC-licensed exchange and clearinghouse, in June through its joint venture with Susquehanna International Group. The company said more than 3.5 billion event contracts had been traded to date.

Meanwhile, options remained another major contributor, generating $342 million in revenue. This figure was up by 29% year-over-year. Equities revenue climbed even more sharply, rising 95% to $129 million as equity notional trading volumes reached a record $956 billion, an 85% increase from the same period last year.

The strong performance across these businesses came despite weaker cryptocurrency activity. Robinhood’s crypto revenue fell 38% year-over-year to $100 million, while crypto notional trading volume stood at $40 billion, including $18 billion from its app and $22 billion from Bitstamp.

Global Push

The online brokerage is pushing deeper into blockchain and digital assets internationally. It unveiled the public mainnet for Robinhood Chain, an Ethereum Layer 2 network designed for financial services and real-world assets, while also announcing stock tokens for eligible users in more than 120 countries.

In May, it launched Agentic Trading, which allows customers to use AI-powered agents to trade equities, options, and crypto. Nearly 100,000 customers have opened Agentic Trading accounts so far, with more than $100 million in assets under custody.

During the quarter, the company expanded its international footprint by closing its acquisition of WonderFi, a Canadian digital asset products and services platform. The move marked its official entry into the Canadian market.

Tenev also pointed to the broader expansion strategy, saying

“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner. Broad ownership is essential to a free, stable, and prosperous society.”

Source: CryptoPotato