CEO Vlad Tenev on Robinhood's Record Year (+200%, ~$100B Market Cap)

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Jan 10, 2026

Vlad Tenev, co-founder and CEO of Robinhood, shares insights about the company’s astounding growth, including 11 revenue streams each surpassing $100M. He explores prediction markets as a new frontier for sports and insurance, innovative tokenization strategies, and the introduction of Robinhood Cortex, an AI financial assistant for users. Vlad discusses generational shifts in retail investing and reimagining earnings calls as live, interactive events. His vision encompasses expanding Robinhood's global presence and enhancing accessibility to private markets for everyday investors.

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ADVICE

Make Products Discoverable And Actionable

Add prediction markets to web and deepen sports contracts to broaden engagement and personalization.
Launch an AI assistant with full portfolio context so users can act on insights via voice or chat.

INSIGHT

Grow With Customers, Don’t Outgrow Them

Serve customers as they age by adding advanced products while retaining a simple entry experience for newcomers.
Avoid becoming a generational-only product by evolving features and UX across lifecycle stages.

INSIGHT

Prediction Markets As A New Supercycle

The 2024 presidential election triggered a prediction-market supercycle that broadened use beyond niche traders.
Prediction markets can potentially disrupt insurance, weather hedging, and other large industries as contracts become bespoke.

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Robinhood CEO Vlad Tenev joins Molly O’Shea from Robinhood HQ to break down the company’s record year and what powered its growth.

Robinhood (NASDAQ: HOOD) stock opened 2025 under $40/share and ended the year around $113/share, a ~200% annual gain, pushing the company to roughly $120B in market capitalization. But as Vlad explains, the bigger story is under the hood.

Today, Robinhood has 11 separate business lines generating $100M+ in annual revenue (!!), including prediction markets, margin, Gold subscriptions, cash sweep, crypto, and institutional infrastructure via Bitstamp. Vlad walks through Robinhood’s three long-term arcs: becoming #1 for active traders, owning wallet share for the next generation, and expanding globally into business and institutional markets.

The conversation spans:

Prediction markets as a new supercycle (sports, weather, insurance)
Tokenized stocks and 24/7 trading in Europe
Reinventing earnings calls as live, interactive experiences
Unlocking private markets and AI companies for retail investors
Robinhood Cortex, an AI financial assistant with full portfolio context
Why retail investors today look very different than in 2021

This is a deep look at how Robinhood matured alongside its users — and how Vlad thinks about the next decade of finance.

Vlad Tenev:Molly O’Shea: ⁠https://x.com/MollySOShea⁠Sourcery: ⁠https://x.com/sourceryvc

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Disclosure

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