Regulations
By Pankaj K
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Where the Volume Actually Came From. The breakdown matters here. Robinhood's own app generated $7.
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Event Contracts Are Now the Real Story. Here's the thing that probably surprised most people looking at August's numbers: event contracts…
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Robinhood Chain Picks Up Speed. Separate from the trading volume data, Robinhood Chain — the company's Ethereum layer 2 network —…
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Robinhood's crypto numbers bounced back hard in August. Total crypto trading volume hit $17.5 billion, a 61% jump from July's $10.9 billion. But that's still well below the $28.
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The breakdown matters here. Robinhood's own app generated $7.4 billion of that August total — a 72% monthly gain, but still 46% behind the same month a year ago.
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And crypto, for all the attention it gets, is still pretty much a side act at Robinhood. The platform's total assets sat at $384 billion at last count — up 26% year over year.
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Here's the thing that probably surprised most people looking at August's numbers: event contracts are basically eating crypto's lunch inside Robinhood's own house.
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August saw 4.7 billion event contracts traded. That's down 23% from July — so not a clean month. But it's 15 times the volume recorded in August of last year. Fifteen times.
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The growth hasn't gone unnoticed in Washington. More than 10 legislative bills have been introduced since January targeting prediction markets specifically.
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Robinhood's prediction market operations run through several partner exchanges, including Kalshi and ForecastEx, plus Rothera, a joint venture.
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Related: Robinhood Crypto Soars to $10.1B in August Despite 46% App Trading Drop
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And Kalshi just made things more complicated. The exchange — which is a key partner for Robinhood's event contracts — plans to seek regulatory approval to offer single-stock…
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Decentralized finance has been gaining ground across the broader industry for a while now, and Robinhood seems to be positioning Robinhood Chain as part of that story.
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Robinhood's stock, for its part, fell 0.83% on Thursday following the data release. Analysts have recently raised their price targets on the company based on overall growth…
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Read also: ETHFI Leads Crypto Gainers with 7.8% Surge Despite Market Dip
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