Robinhood now makes more money from predicting the future than trading crypto

Robinhood's cryptocurrency revenue fell 55% in the third quarter, even as its new blockchain helped offset declining trading income. The brokerage reported $120 million in crypto revenue for the three months ended Sept. 30, trailing the $173 million generated by prediction-market contracts. Meanwhile, total company revenue rose 12% to a record $1.42 billion. The results highlight a growing divergence between Robinhood's digital asset business and its other trading products, with options and prediction markets emerging as larger revenue contributors.

Source: CryptoSlate