Robinhood's crypto revenue falls 55 percent to $120 million as prediction markets overtake it and Robinhood Chain earns $26 million in its first quarter

Robinhood's crypto business shrank sharply from a year ago even as the company posted its highest quarterly revenue yet. In results released Tuesday, Robinhood said crypto transaction revenue was $120 million in the three months to September 30, down 55% from the same quarter of 2025. Crypto notional trading volume fell 38% to $50 billion, with $21 billion on the Robinhood app and $29 billion on Bitstamp, the exchange it bought in 2025.

Prediction markets have now passed crypto as a revenue line. Event-contract revenue was $173 million, more than six times a year earlier, and The Block reported that $28 million of it came from Rothera, Robinhood's joint exchange with Susquehanna. Options brought in $399 million and equities $121 million.

Robinhood Chain, which launched on mainnet on July 1, became a top-five chain by revenue and volume in its first quarter, the company said, with more than $80 billion in DEX volume and more than $50 million in chain fees. The Block put the chain's contribution to Robinhood's revenue at $26 million and said crypto revenue rose 20% from the second quarter once it was included.

Funded customers reached 28.7 million and platform assets $396 billion. Chairman and CEO Vlad Tenev said in the release: "Our vision is to make everyone an owner, because broad ownership is essential to a free, stable, and prosperous society." The Block reported the stock fell 5.5% in after-hours trading to $89.22 and is down about 22% this year.