Bernstein: prediction markets will bring Robinhood $1.7 billion by 2028

Analysts at Bernstein expect that prediction markets will become one of the additional profit drivers for the trading platform Robinhood Markets (HOOD) and potentially surpass its cryptocurrency revenue. According to the forecast shared by analysts with Cointelegraph on Monday, prediction markets could bring Robinhood up to $1.7 billion by 2028 compared to the expected $1.6 billion in cryptocurrency revenue for the same year.

Revenue from prediction markets, according to Bernstein's estimate, will grow to $1.7 billion in 2028 from approximately $650 million this year and will account for about 18% of Robinhood's projected total revenue of $9.4 billion by that time.

The forecast was published a day before Robinhood's Q3 2026 earnings report and shows that prediction markets are becoming a growing source of income for the platform, which is focused on retail clients. Bernstein expects revenue growth for Q3 of 13% quarter-over-quarter – approximately to $1.5 billion – due to increased nominal stock trading volumes, options and event contract volumes, as well as a recovery in cryptocurrency trading volumes.

Analysts raised Robinhood's revenue estimates by 3% for 2026, by 4% for 2027, and by 3% for 2028, maintaining the target price of $160 unchanged and citing higher assumptions for stock and cryptocurrency revenue.

Robinhood shares, traded on Nasdaq, were expected to open lower on Monday: according to Yahoo Finance, in pre-market trading, the price fell to $93.60. Over the past 12 months, HOOD shares have depreciated by more than 29%.