Robinhood CEO Vlad Tenev predicts crypto will dominate prediction markets

Robinhood’s prediction markets business started as an election-season experiment in 2024. Two years later, it’s generating hundreds of millions in revenue, and CEO Vlad Tenev says the fastest-growing slice of the pie isn’t sports. It’s crypto. Speaking on CNBC’s Mad Money on September 20, Tenev said crypto event contracts are capturing a disproportionate share of trading activity on the platform, and he expects sports betting to become a minority category in Robinhood’s prediction markets business within a few years. The numbers behind the shift Robinhood traded 13.6 billion event contracts in Q2 2026, pulling in roughly $156 million in revenue from that segment alone. Prediction markets have at times generated more money for Robinhood than its actual crypto trading business. A hefty chunk of that Q2 volume, about 5 billion contracts, was tied to the World Cup. But even with a global tournament juicing the sports side, crypto-linked contracts still managed to grab a larger share of overall activity. The first eight months of 2026 have been record-setting for Robinhood’s prediction markets in terms of trading activity. Building the infrastructure to match the ambition Rothera, a joi...