Webull Swings to Profit as PDT Rule Boosts Trading

Webull reported record second-quarter results for 2026, with revenue rising 51 percent year over year to $198.8 million, driven by a surge in trading activity following the elimination of the Pattern Day Trader rule. The online brokerage swung to a net profit of $24.4 million, compared to a loss of $28.3 million in the same period a year earlier.

The company attributed much of its performance to the removal of the PDT rule on June 4, which eliminated the $25,000 minimum account balance requirement for day trading. Group President and U.S. CEO Anthony Denier called the rule change the company's "defining event for the quarter," noting it contributed to a significant increase in trading volumes. Webull's technology allowed qualified customers to make unlimited day trades under its zero-commission model after the change took effect.

Trading-related revenue was the primary growth driver, increasing 66 percent to $147.7 million and accounting for about three-quarters of total revenue. Options revenue rose to $88.4 million from $56.2 million, while equity revenue reached $33.5 million, up from $19.6 million. The platform recorded 213 million options contracts during the quarter, a 68...