# Robinhood's event-contract revenue went from $10m to $156m — now bigger than crypto, second only to options

![Robinhood's event-contract revenue went from $10m to $156m — now bigger than crypto, second only to options](https://aiswingx.com/static/covers/hood-2026q2_cover.jpg?v=1790006096)

**Q2 10-Q: prediction-style event contracts are 20% of transaction revenue. Crypto revenue fell 37%, margin balances rose 2.3×. Of the $573m net income, $129m is one-off gains including a subsidiary deconsolidation**

Robinhood Markets (HOOD) reported net revenue of $1,308m for the second quarter of 2026, up 32% from a year earlier. In the revenue breakdown of the 10-Q filed July 30, the fastest-growing line is not equities, options or crypto: 'event contracts', $10m a year ago, reached $156m.

- 종목: HOOD (Robinhood Markets)
- 분기: 2026Q2 · 10-Q
- 작성: 2026-09-21 16:03 UTC · 업데이트: 2026-09-21 16:17 UTC
- 원문: https://aiswingx.com/p/hood-2026q2

## 숫자 하나
Q2 2026 event-contract revenue $156m (Q2 2025: $10m) — 20.1% of $776m transaction revenue. Crypto revenue in the same quarter: $100m (Q2 2025: $160m, −37%).

## 비유 하나
(구독자 전용)

## 출처 하나
Robinhood Markets Form 10-Q for Q2 2026 (filed 2026-07-30): statement of operations, Revenues note (disaggregation, market-maker concentration), Commitments and Contingencies note (event-contract litigation), MD&A 'Key Performance Metrics'

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

Robinhood Markets (HOOD) is the U.S. online broker that began as a commission-free app for stocks, options and crypto, and is watched by Korean retail investors as a barometer of American retail trading.

Its 10-Q for the second quarter of 2026, filed July 30, shows net revenue of **$1,308m**, up 32% from $989m a year earlier, and net income of **$573m** ($561m after $12m attributable to non-controlling interests). Transaction-based revenue — 59% of the total at $776m — is broken down by product, and the line that stands out is **'event contracts'**: **$10m** in the second quarter of 2025, **$156m** this quarter. For the first half, $13m became $260m.

In the same table, options revenue rose 29% to $342m and equities 95% to $129m, while **crypto revenue fell 37% to $100m**. Event contracts have overtaken crypto to become the second-largest source of transaction revenue after options.

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(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

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## FAQ

**Q. Where is event-contract revenue disclosed?**

In the revenue note's disaggregation table, as 'Event contracts' within transaction-based revenues: $156m in Q2 and $260m in the first half, against $10m and $13m a year earlier.

**Q. What is the litigation about?**

The contingencies note says that since June 2025 plaintiffs in six states and several tribal nations have sued, alleging certain event contracts are unlawful gambling; some claims were dismissed, others continue. The company also lists as a risk factor that regulatory changes could prevent it from offering event contracts. This article reports only what is disclosed.

**Q. Is there anything one-off in the $573m net income?**

Other income of $135m includes a $106m gain on deconsolidating the subsidiary RVI and $23m of gains on equity securities, per the MD&A. How to read that is covered in the subscriber section.

**Q. Where can I verify these numbers?**

On SEC EDGAR: Robinhood Markets' Q2 2026 Form 10-Q (accession 0001783879-26-000114), statement of operations, revenue note, contingencies note and the MD&A key metrics table.