Crypto trading on Robinhood collapsed by nearly half from a year ago in October, even as its customers poured into event contracts at a record pace.
Customers traded 17 billion dollars in digital assets across the Robinhood app and its Bitstamp exchange, down 21 percent from September and 48 percent from October 2025, when volume reached 32.5 billion dollars. The flagship app accounted for 6.8 billion dollars, down 51 percent from a year earlier, while Bitstamp handled 10.2 billion dollars.
The contrast with the company's prediction-markets business was stark. Customers traded 5.9 billion event contracts in October, up 5 percent from September and 136 percent from the 2.5 billion traded a year earlier, with average daily volume hitting 190 million contracts.
That surge coincided with the final weeks before the November 3 midterm elections and has drawn scrutiny in Washington. Senator Elizabeth Warren, set to chair the Senate Banking Committee in January, plans to crack down on prediction markets and election betting platforms.
The crypto slump mirrors a broader retreat by retail traders. Bitcoin, which ended September near 83,500 dollars, fell below 70,000 dollars early Friday for the first time since August after a hot inflation report raised the odds of a December rate hike. U.S. spot bitcoin exchange-traded funds have now posted six straight sessions of outflows and erased their net inflows for 2026.