Robinhood (HOOD) outlined accelerating growth across new product lines at the Wolfe Research Wealth Symposium on Wednesday. Chief Brokerage Officer Steve Quirk said the platform recorded its highest equity trading day in company history, surpassing peaks from 2020 and 2021.
The company now operates 28 million customer accounts and reaches roughly 10% of U.S. households age 18 and older. Average customer account size has grown to about $15,000, though Robinhood controls only a "minuscule portion" of total investable assets. Quirk said this gap creates room for expansion as younger customers build wealth over time.
Q3 marked Robinhood's best quarter, aided by the removal of the pattern day trader rule on June 4. October was the third-best deposit month in company history. Robinhood reports net positive ACAT transfers from every competitor and is on pace for roughly 20% net deposit growth this year.
The company is pushing three growth priorities: prediction markets, agentic trading and wealth management through TradePMR. Non-sports prediction market contracts have doubled in volume and now generate meaningful revenue. More than 200,000 customers use agentic trading tools. Robinhood launched Robinhood Strategies, a managed portfolio product, and Robinhood Advisor Network.
The company operates in about 30 countries and offers roughly 80% of planned products in those markets. Quirk said Robinhood aims to serve registered investment advisers with lower account minimums than legacy custodians typically require.
Management acknowledged regulatory uncertainty around prediction markets and perpetual futures even as it expands those offerings. Quirk said about 40% of prior ACAT outflows tied to the pattern day trader rule are being re-engaged. Robinhood stated litigation continues around prediction markets and perpetual futures, and it is prepared for multiple regulatory outcomes.
Investors tracking HOOD should monitor updates on regulatory clarity around prediction markets and perpetual futures, along with whether wealth management and agentic trading generate the growth the company projects.