Robinhood crypto volume falls 21% as event contracts hit 5.9B
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Robinhood‘s combined crypto trading volume across its main app and Bitstamp fell to $17 billion in October, a 21% drop from September, the company disclosed in its monthly operating update released on November 12, as Crypto.news reported on November 13. Over the same month, customers traded 5.9 billion event contracts.
Crypto turnover drops on both platforms
The decline was spread across both venues. App trading was 51% below October 2025, and Bitstamp turnover fell 45% over the same period. Average daily crypto volume across the two platforms was $548 million, down from $713 million in September; Bitcoin Magazine reported that the year-earlier daily average was about $1.05 billion and that daily crypto trades slipped to roughly 700,000 from 900,000 in September.
Using the rounded monthly figures in the release, combined turnover fell by $4.4 billion from September’s $21.4 billion. Bitstamp accounted for 60% of the October total. October’s combined figure was also about 2.9% below $17.5 billion in August, when crypto.news reported a 61% monthly rebound from July’s $10.9 billion.
Event contracts outpace crypto revenue
The clearest contrast is on the income statement. In third-quarter results published October 27, event-contract revenue reached $173 million, more than six times the year-earlier level, while crypto transaction revenue dropped 55% to $120 million. Options remained the largest transaction category at $399 million, followed by event contracts, equities at $121 million and cryptocurrencies. Total quarterly revenue was $1.42 billion, up 12% annually, while net income fell 14% to $476 million and diluted earnings per share declined 16% to $0.51.
Bitcoin Magazine noted that October’s event-contract tally covered the final weeks before the November 3 midterm elections and that Senator Elizabeth Warren, who is set to chair the Senate Banking Committee in January, plans to crack down on prediction markets and election betting platforms. Robinhood’s September prediction markets partnership with OG.com included a phased rollout to eligible U.S. customers from September 8, with Citadel Securities’ investment terms valuing Crypto.com at $20 billion and the separated OG.com business at $5 billion.
Why it matters
The update shows a retail brokerage diversifying its revenue base ahead of its crypto franchise: prediction markets have overtaken spot crypto as a money-maker even as Robinhood keeps expanding its digital-asset footprint. For readers following Robinhood’s crypto ambitions through its $25 million bitcoin purchase in October, the operating data suggests customer activity, not company strategy, is the weak link.
The rest of the brokerage held up better. Equity notional volume was $325.5 billion, up 1% monthly, options contracts totaled 288.6 million, margin balances reached $22.9 billion, and funded customers rose by about 130,000 to 28.9 million. Cash and deposits fell 20% to $16.4 billion, mostly because customers were net buyers, and Robinhood said that decline had largely reversed in early November.
Market snapshot
Bitcoin traded at $66,755 (₹6,292,643) on November 14, 2026, down 2.5% in 24 hours and 12.1% over seven days, with a market cap of $1.34 trillion and 24-hour volume of $25.38 billion, according to CoinPaprika market data timestamped November 14, 2026, 04:54 UTC. Ethereum stood at $1,891 (₹178,268), down 1.3% in 24 hours and 15.8% over seven days, and Solana at $75.33 (₹7,101), down 4.1% and 16.3% respectively.
What to watch
November’s operating data will show whether the slide below $70,000 brought crypto traders back or pushed more of them toward event contracts. Robinhood reports full fourth-quarter results early next year, and October’s figures are the first look at how the quarter started.
This article reports company-disclosed trading data and is not financial or investment advice; crypto markets are volatile and figures in monthly updates are unaudited and preliminary.
Frequently Asked Questions
How much did Robinhood’s crypto trading volume fall in October 2026?
Combined crypto turnover across the Robinhood app and Bitstamp reached $17 billion, down 21% from September and 48% from the $32.5 billion recorded in October 2025.
How many event contracts were traded on Robinhood in October?
Customers traded 5.9 billion event contracts, up 5% from September and 136% from the 2.5 billion traded a year earlier, averaging about 190 million contracts a day.
Did prediction markets earn Robinhood more than crypto in Q3 2026?
Yes. Event-contract revenue came to $173 million against $120 million from crypto transactions, a gap of $53 million, according to the company’s third-quarter results.
Why did Robinhood’s crypto activity decline?
Robinhood did not give a reason in its November 12 operating update, and the release, like all monthly updates, is unaudited and preliminary.
Sources: crypto.news, Bitcoin Magazine
