Robinhood prediction market revenue projected to reach $1.7 billion by 2028

Bernstein analysts have issued an optimistic forecast for Robinhood Markets, predicting that its prediction market business could generate $1.7 billion in annual revenue by 2028. This figure is expected to surpass the company’s projected cryptocurrency trading revenue of $1.6 billion in the same year.

According to analyst Gautam Chhugani, event contract revenue is projected to grow from approximately $650 million this year to $1.7 billion by 2028, accounting for roughly 18% of Robinhood’s projected $9.4 billion in total revenue. In the second quarter, event-contract revenue reached $156 million, marking a more than tenfold increase year-over-year and outperforming crypto trading revenue for the first time on a quarterly basis.

In light of these projections, Bernstein raised its revenue forecasts for Robinhood by 3% for 2026, 4% for 2027, and 3% for 2028, while maintaining a $160 price target. The company is scheduled to report its third-quarter earnings on October 27.