Prediction Markets to Overtake Crypto Revenue for Robinhood by 2028, Says Bernstein

Prediction markets are forecasted to bring Robinhood up to $1.7 billion in revenue by 2028, exceeding the anticipated $1.6 billion revenue from crypto-related activities that same year, according to Bernstein's recent report shared with Cointelegraph.

Bernstein anticipates Robinhood's income from prediction markets will grow from approximately $650 million this year to $1.7 billion in 2028, representing around 18% of Robinhood's projected total revenue of $9.4 billion in 2028.

This outlook, released just one day before Robinhood's third-quarter 2026 earnings report, highlights prediction markets as an increasingly important revenue segment for the retail-focused platform.

Bernstein expects Robinhood's third-quarter revenue to rise by 13% compared to the previous quarter, reaching about $1.5 billion. This boost is attributed to higher volumes in equities, options, event contracts, and a rebound in crypto trading.

Additionally, Bernstein has revised its revenue projections for Robinhood upward by 3% for 2026, 4% for 2027, and 3% for 2028. Despite these adjustments, the $160 target stock price remains unchanged, supported by improved expectations for equity and cryptocurrency revenues.

Shares of Robinhood, listed on Nasdaq, were set to open lower on Monday, with premarket trading reducing the stock price to $93.60, according to Yahoo Finance. Over the past year, the HOOD stock has declined by more than 29%.

This forecast underscores the growing importance of prediction markets as a revenue driver for Robinhood, signaling a potential shift in its business model beyond cryptocurrency trading.