Robinhood’s event-contract business generated $156 million in transaction revenue in Q2 2026, exceeding equity trading at $129 million and cryptocurrency transactions at $100 million. Options remained the largest transaction revenue stream at $342 million. Event-contract volume reached 13.6 billion, more than ten times the year-earlier level, while revenue rose from $10 million. July added another 6.1 billion contracts, roughly 20 times the year-earlier level. Rothera, Robinhood’s CFTC-licensed exchange and clearinghouse joint venture with Susquehanna International Group, processed 2.1 billion contracts in Q2 and contributed $17 million of event-contract revenue. The company’s total net revenue reached a record $1.31 billion and net income was $573 million. Crypto trading volume fell 62% year over year to $10.9 billion, suggesting retail speculative activity is shifting toward prediction markets as well as reflecting broader changes in Robinhood’s revenue mix. Morgan Stanley analyst Michael Cyprys upgraded HOOD to Overweight and lifted his price target to $150 from $124, while the shares rose 16.6% to $124.72 on Thursday before falling about 2.1% on Friday. Investors continue to assess whether event-contract growth can persist beyond major-event peaks, while regulatory scrutiny of sports and political contracts remains in place.