Lates News

Robinhood predicts rapid growth in the market platform business Robinhood's Chief Broker Officer, Steven Quirk, has stated that the company's annual revenue run rate has reached $500 million. During the second quarter ending on June 25, Robinhood's active contract trading volume reached approximately 12.3 billion contracts, with an estimated revenue of at least $1.23 million calculated based on a standard fee of 1 cent per contract. The recently launched Rothera prediction market platform achieved over 9 billion trades in its first week, bringing nearly 60% of the active contract trading volume to Robinhood. Meanwhile, due to weak institutional trading volume and a decline in cryptocurrency trading volume, it is expected that the cryptocurrency revenue for the second quarter will be less than $134 million. Predicted market revenue is expected to surpass cryptocurrency as a higher growth revenue source this quarter.