Robinhood's Prediction Market Revenue on Track to Surpass Crypto Trading Revenue in Q2

According to Odaily, Robinhood's prediction market business is experiencing rapid growth, with the company's Chief Brokerage Officer Steven Quirk stating the platform has achieved a $500 million annual revenue run rate. During Q2 through June 25, Robinhood recorded approximately 12.3 billion prediction market contract trades. At a standard fee rate of one cent per contract, the company projects prediction market revenue of at least $1.23 million for the quarter. Meanwhile, cryptocurrency trading volume is declining due to weak institutional activity, with expected Q2 crypto trading revenue falling below $134 million. Robinhood expects prediction market revenue to surpass cryptocurrency revenue by the end of the quarter, positioning it as the company's faster-growing revenue stream.
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