Bernstein: Predicts the market will contribute $1.7 billion in revenue to Robinhood in 2028, surpassing the cryptocurrency business

According to Cointelegraph, Bernstein analysts expect that the prediction market will become a new profit growth point for the trading platform Robinhood Markets (HOOD), potentially bringing in about $1.7 billion in revenue by 2028, surpassing the estimated $1.6 billion from its cryptocurrency business during the same period.

Analysts predict that Robinhood's prediction market revenue will grow from about $650 million this year to $1.7 billion by 2028, accounting for approximately 18% of its total revenue of $9.4 billion in 2028.

This forecast was released the day before Robinhood's Q3 2026 earnings report. Bernstein expects Robinhood's Q3 revenue to increase by 13% quarter-over-quarter to about $1.5 billion, mainly driven by growth in stock nominal trading volume, options trading volume, event contract trading volume, and a rebound in cryptocurrency trading volume. Bernstein raised its revenue expectations for Robinhood by 3% for 2026, 4% for 2027, and 3% for 2028, while maintaining a target price of $160, citing improved assumptions for stock and cryptocurrency revenue.

Robinhood is listed on NASDAQ, and its stock price fell to $93.6 in pre-market trading on Monday, having dropped over 29% in the past 12 months.