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Bernstein says prediction markets could out-earn crypto at Robinhood by 2028, trims Coinbase's target and lifts Circle's
⚪NeutralThis is an analyst forecast about trading-platform stocks, with a cut for Coinbase and a raise for Circle, not news tied to a specific coin.News sentiment, not financial advice. It reflects the likely impact of this news, not a price prediction.
Summary
Bernstein analysts expect prediction markets to bring Robinhood up to $1.7 billion in revenue by 2028, more than the $1.6 billion they project from crypto that year, according to a forecast shared with Cointelegraph on Monday, Oct. 26.
Cointelegraph said Bernstein sees Robinhood's prediction-market revenue rising from about $650 million this year to roughly 18% of its projected $9.4 billion total in 2028.
The Block reported that prediction markets and derivatives are shaping Bernstein's wider crypto-stock outlook, with the firm cutting its Coinbase price target while raising Circle's.
The note lands a day before Robinhood's third-quarter report; Bernstein kept its $160 Robinhood target unchanged, per Cointelegraph.
Key facts
- Bernstein expects Robinhood's Q3 revenue to rise 13% quarter over quarter to about $1.5 billion, helped by equity, options and event-contract volumes and a recovery in crypto trading.
- Bernstein raised its Robinhood revenue estimates by 3% for 2026, 4% for 2027 and 3% for 2028.
- Robinhood shares were around $93.60 in Monday premarket trading and are down more than 29% over 12 months.
- Bernstein cut its Coinbase price target and raised Circle's as new products shift their earnings outlook.