Robinhood’s notional crypto trading volume rose 61% month over month to $17.5 billion in August, according to operating data released by the company on Thursday. The increase followed a weaker July, when crypto volume totaled $10.9 billion, but August’s figure was still 38% below the $28.1 billion processed during the same month last year.

The Robinhood app accounted for $7.4 billion of August’s crypto volume, a 72% increase from July and a 46% decline from a year earlier. Bitstamp, the exchange Robinhood acquired in 2025, contributed the larger share at $10.1 billion, up 53% month over month. Combined, the two platforms averaged $565 million in daily trading volume.

Crypto represented a small portion of Robinhood’s broader platform. Total assets reached $384 billion, up 26% year over year, while funded customers—users who completed at least one transaction during the previous 45 days—increased to 28.6 million. Margin loans, or money Robinhood lends customers to trade with borrowed funds, rose 72% from a year earlier to $21.5 billion.

Event contracts, however, recorded a substantially larger increase in activity. Robinhood’s prediction-market contracts, which cover subjects including Federal Reserve decisions and football games, were traded 4.7 billion times in August. That was 23% below July’s level but approximately 15 times the 300 million contracts traded in August 2025.

Each contract is structured as a yes-or-no wager. A customer can buy a “yes” contract for a few cents, and it pays $1 if the outcome is correct or nothing if it is not.

The growth has made prediction markets a major source of Robinhood’s transaction revenue. During the company’s record quarter in July, event-contract revenue increased more than tenfold year over year to $156 million, surpassing crypto revenue as a source of transaction income.

Robinhood offers the products through partner exchanges Kalshi and ForecastEx, as well as its joint venture Rothera. Rothera had processed more than 3.5 billion contracts since launching in June, according to the report cited in the operating update.

The expansion has drawn attention from lawmakers. More than 10 bills targeting prediction markets have been introduced since January, including the PREDICT Act. The legislation would prohibit members of Congress, the president and other senior officials from trading contracts tied to political events. Critics say placing sports and political wagers alongside retirement accounts blurs the distinction between investing and gambling, an issue regulators are continuing to address.

Robinhood’s blockchain initiative has also reported rapid growth. Robinhood Chain, the company’s Ethereum layer 2—a secondary network designed to process transactions more quickly and at lower cost before settling them on Ethereum—recorded $1.6 billion in daily decentralized-exchange trading volume as of September 1, up 61% in four days.

Robinhood shares nevertheless declined after Thursday’s operating-data release. HOOD fell 0.83% on the day, despite analysts at Mizuho and StoneX raising their price targets during the week based on the company’s broader growth.

Robinhood’s next quarterly earnings report is expected on November 4.