Robinhood's Mixed Bag: Prediction Markets Soar, Cryptocurrency Business Falters Robinhood's latest earnings report has left investors and analysts perplexed. On one hand, the company has posted a record revenue of $1.
31 billion in Q2, driven largely by its prediction market business. Conversely, its cryptocurrency segment continues to decline, raising questions about its long term viability.
The surge in Robinhood's prediction market business is particularly striking. Total volume for these markets skyrocketed to 13 billion contracts in Q2, up from 9 billion in the first quarter.