Robinhood Generated $10 Million from Second-Quarter Event Contracts, Accounted for the Majority of Kalshi's Trading Volume
In the second quarter of the year, Robinhood, the popular trading platform, generated approximately $10 million in revenue from its prediction market trading activities on Kalshi. This figure is based on Robinhood users trading around $1 billion worth of event contracts on Kalshi during the quarter.
Each contract traded is valued at a dollar, and Robinhood charges a fee of two cents per contract, with half going to Kalshi and the other half to Robinhood. This fee structure contributed to the $10 million revenue estimate.
The trading activity, which took place over the three months ending in June, saw a total of one billion contracts being traded on Robinhood. This trading volume is a significant part of Robinhood’s "other revenues" segment, which contributed $93 million overall in Q2 2025.
Robinhood does not host its own exchange but provides access to Kalshi’s markets. The trading activity was carried out by Robinhood users, and it is believed that this activity generated around $10 million in revenue for Robinhood.
The revenue estimate is a notable addition to Robinhood’s Q2 results, which were discussed in an earnings call. Jason Warnick, the company’s chief financial officer, provided the revenue estimate.
It's important to note that this isn't the total cumulative trading on Robinhood's platform, including trades before and after Q2. The cumulative trading amounts to $2 billion. However, the $10 million revenue estimate specifically pertains to the prediction markets offered by Robinhood during the second quarter.
This foray into prediction markets is a significant step for Robinhood, as it expands its offerings beyond traditional stock trading. The company's integration of prediction markets into its offering was discussed by Jason Warnick.
Sources: 1. cdcgaming.com/brief/robinhood-made-10m-from-second-quarter-event-contracts-delivered-most-of-kalshis-volume/ 2. www.aol.com/finance/robinhood-launches-prediction-market-march-130000794.html
- Robinhood's integration of prediction markets into its business model, demonstrated by the trading of around $1 billion worth of event contracts on Kalshi during Q2 2025, yielded an estimated $10 million in revenue through a fee structure, contributing significantly to the "other revenues" segment of the company's Q2 2025 financials.
- In the realm of technology-driven financial services, Robinhood's expansion of its offerings beyond traditional stock trading to include prediction markets, as exemplified by the Q2 2025 figure of $10 million in revenue generated from these markets, signifies a strategic move towards diversifying its investments in the financial and sports sectors.
