Robinhood Made $173M From Bets Last Quarter and $120M From Crypto. The Same Day, Washington Sued a 10th State to Keep the Bets Legal

Robinhood's Q3 2026 results show event-contract revenue up more than 6x to $173M while crypto revenue fell 55% to $120M. The same day the CFTC sued Utah, its tenth state, a week after Utah sued Kalshi and Susquehanna for up to $61.2M, calling prediction markets illegal gambling. Robinhood routes its prediction markets through Kalshi and Rothera, its exchange joint venture with Susquehanna.