Robinhood Prediction Markets May Outpace Crypto Revenue by 2028
Bernstein analysts estimate Robinhood’s prediction markets could generate about $650 million in revenue in 2026 and $1.7 billion by 2028, surpassing the $1.6 billion projected from its cryptocurrency business. Prediction markets would represent around 18% of the company’s forecast $9.4 billion in total revenue that year.
The outlook marks prediction markets as a growing revenue stream for Robinhood, though the figures are analyst estimates, not reported results. Ahead of the company’s third-quarter 2026 results, Bernstein forecast quarterly revenue of about $1.5 billion, supported by stock, options and event-contract trading, as well as a recovery in crypto volumes.
Bernstein raised its Robinhood revenue forecasts for 2026, 2027 and 2028 by 3%, 4% and 3%, respectively, while keeping its price target at $160. HOOD was indicated at $93.60 in premarket trading and had fallen more than 29% over the prior 12 months. The projections point to prediction markets becoming a larger part of Robinhood’s business, alongside crypto trading.
Neutral
The forecasts concern Robinhood’s revenue mix and do not provide a direct catalyst for the price of any specific cryptocurrency. In the short term, the estimates may draw attention to event-contract activity and crypto trading volumes on the platform, but trader reactions to company forecasts are more likely to affect Robinhood shares than the broader crypto market. Over the longer term, prediction markets could compete with or complement crypto trading for user attention and platform activity. However, the projections are estimates, and they do not establish a clear effect on cryptocurrency prices or market stability. The impact on crypto assets is therefore neutral.