Robinhood is a commission-free retail brokerage and financial services platform, primarily accessed via mobile app. Robinhood lets customers trade U.S.-listed stocks, ETFs, options, crypto, futures, and prediction markets with no account minimums. Robinhood makes money three ways: transaction revenue (payment for order flow rebates in equities and options, spread-based fees in crypto, per-contract commissions in futures and prediction markets), net interest income (on margin loans, cash sweep balances, and securities lending), and subscription fees from Robinhood Gold ($5/month), which unlocks higher rates, IRA matches, margin access, and advanced tools. Gold subscribers are the core of the business model — they hold more assets, trade more, and adopt more products than non-subscribers. Robinhood has high fixed costs, meaning incremental revenue largely flows to the bottom line. Robinhood's growth strategy has three tracks: becoming the go-to platform for active traders (desktop platform, options, futures, prediction markets, AI tools), building a financial super app for the next generation (banking, credit card, wealth management, private market access), and expanding globally and into institutional markets via its Bitstamp crypto exchange and a tokenization initiative that puts real-world assets on blockchain rails for 24/7 fractional trading.