Robinhood stock shrugs off a 47% crash in crypto revenue thanks to a massive surge in event betting
Burns Brief
While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1 Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1.07 billion.
Key Takeaways
- While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1