Robinhood claims one billion event contracts have been traded in the last six months

Robinhood has claimed its customers have traded more than one billion event contracts in the past six months, although less than half of that has been on sports event contracts.

The update, which was included in the retail trading platform’s Q1 earnings report, marks the first one detailing volume from the California-based company since last year.

At the company’s Investor Day in December, CEO Vladimir Tenev revealed 507 million contracts were traded on the US presidential election.

In February, Robinhood rolled out its predictions hub, powered by Kalshi, as it began to accept sports event contracts across multiple sports.

The firm had planned to go live in time for the Super Bowl but pulled its product at the request of the Commodity Futures Trading Commission (CFTC).

The Robinhood offering has included markets for March Madness, the NHL and the NBA, although the vast volume of contracts came on the race for the White House.

As per the company’s investor presentation, prediction markets are housed within its ‘Other’ reporting segment, which also includes revenue from Instant Withdrawals, interchange revenues which are offset by rewards expense and futures.

In Q1, Robinhood’s other segment generated $35m (£23.3m) in transaction-based revenue, compared to $31m in Q4 2024.

Speaking on his hopes for the prediction markets space, Tenev said: “Out of the $1bn in contracts traded, just less than half of that has been sports.

“That’s March Madness, but we also had the Masters, and now there’s NHL and NBA contracts as well. The plan is still to continue to make the product better.

“Now that we have so many contracts, discoverability and organisation is something the team is looking at. We think that this is an incredibly powerful, nascent asset class.

“You should see more and more contracts and a wide variety of contracts over time. We love what we are seeing, and it’s so early that the potential of this is vast.”

When asked if the types of consumer engaging with prediction markets are similar to those using existing Robinhood products, Tenev added that the differences lie in the type of prediction markets itself.

He added: “The great thing about the prediction markets business is that it appeals to a broad range of customers. We see very different behaviours even within prediction markets when you talk about different contracts.

“For example, the group of customers that engage with the economic prediction markets is not the same group of customers that engage with the Masters, for instance.

“So many of the young people who are our customer base love sports and love following news and current events, so actually, what you see is a pretty wide dispersion.”

Total net revenue for the first three months of the year jumped 50% year on year (YoY) to $927m, while average revenue per user was up 39% YoY to $145.

In other sports event contracts news, the CFTC cancelled its planned roundtable to discuss the sector, which was due to held yesterday, 30 April.

Kalshi has also secured court victories in New Jersey and Nevada in recent weeks, allowing it to remain live despite concerns its offering is similar to sports betting.

The post Robinhood claims one billion event contracts have been traded in the last six months first appeared on EGR Intel.

 Retail trading platform caveats that less than half of these relate to sports event contracts, as CEO champions “incredibly powerful” asset class
The post Robinhood claims one billion event contracts have been traded in the last six months first appeared on EGR Intel.