Robinhood users traded around $1 billion worth of event contracts on Kalshi markets during the second quarter of the year, the company’s chief financial officer said, likely generating around $10 million in revenue for the business.
In an earnings call following the stock trading giant’s Q2 results Wednesday, Jason Warnick spoke of the company’s success in integrating prediction markets into its offering. The business does not host its own exchange but instead allows its customers access to Kalshi’s markets, charging an additional fee for them to do so.
Warnick said that one billion contracts were traded on Robinhood during the three months ending in June. Each contract is valued at a dollar, meaning trading volume was around $1 billion. He went on to add that cumulative prediction market trading to date — including trades made in March, before the quarter started, and in July, after it ended — came to $2 billion.
