Robinhood reports $156M event trading revenue

• Robinhood reported US$156 million in event trading revenue, with Rothera adding US$17 million.
• The results show event contracts are becoming a new source of revenue for Robinhood.
• Robinhood said it plans to expand its event trading business as it broadens its financial products.

Robinhood reported US$156 million in event trading revenue during the quarter, while Rothera contributed an additional US$17 million.

The figures reflect Robinhood's push into prediction markets after expanding beyond stock and cryptocurrency trading.

Robinhood said Rothera's revenue came from event contracts that allow users to trade on the outcomes of political, economic and sporting events where permitted.

The company said it will continue expanding its event trading business as part of its broader strategy to diversify revenue.

Following the announcement, the Robinhood share price was unchanged at US$112.52.

Robinhood has expanded its platform in recent years by adding cryptocurrency, retirement accounts, derivatives and prediction markets.

The company continues to invest in new products as it competes for retail investors across multiple financial markets.