Robinhood’s money-printing machine has changed: crypto revenue plunged 55%, while prediction markets surged 5x $BTC $ETH
The most interesting comparison of earnings season is here: Robinhood’s crypto revenue plunged 55% year over year, while prediction-market revenue surged fivefold to $173 million, surpassing its crypto business for the first time ever. The money-printing machine has shifted from crypto trading to betting on elections.
This points to two trends. First, this really is a crypto bear market: even a platform like Robinhood, which relies on retail trading, can’t weather it—transaction-fee revenue has been cut in half. Second, prediction markets are on fire. Midterm elections, Polymarket, event-based betting—retail traders have found a new outlet for their gambling instincts, and both traffic and money are flowing there.
For crypto, this is both a warning and a mirror: when the market cools, users don’t disappear; they just go play somewhere else. When the bull market returns, the money will come back. Do you think prediction markets will siphon traffic away from crypto? Let’s discuss in the comments.
#Robinhood #PredictionMarkets
The most interesting comparison of earnings season is here: Robinhood’s crypto revenue plunged 55% year over year, while prediction-market revenue surged fivefold to $173 million, surpassing its crypto business for the first time ever. The money-printing machine has shifted from crypto trading to betting on elections.
This points to two trends. First, this really is a crypto bear market: even a platform like Robinhood, which relies on retail trading, can’t weather it—transaction-fee revenue has been cut in half. Second, prediction markets are on fire. Midterm elections, Polymarket, event-based betting—retail traders have found a new outlet for their gambling instincts, and both traffic and money are flowing there.
For crypto, this is both a warning and a mirror: when the market cools, users don’t disappear; they just go play somewhere else. When the bull market returns, the money will come back. Do you think prediction markets will siphon traffic away from crypto? Let’s discuss in the comments.
#Robinhood #PredictionMarkets