Does search arbitrage still work in 2026?
Yes, but it is harder and smaller than it was. Google ended parked-domain monetisation, the main model is now Related Search on Content with strict creative and traffic rules, and listed operators such as System1 and Team Internet have reported sharp falls in search revenue. Compliant operators with good traffic still run profitably, with thinner and less predictable margins.
Three things changed. First, AdSense for Domains lost its advertisers through 2025 and stopped being a Google ad surface on 10 February 2026. Second, Related Search on Content became the standard Google route, with the referrerAdCreative requirement from 1 November 2025 and feature restrictions for publishers not in good standing. Third, payouts became volatile: System1 told investors that a partner-wide Google change in June 2026 cut its RSOC monetisation by more than 30%.
So the honest answer is "it works for fewer people". The operators who remain tend to have a direct feed or a strong provider relationship, clean approved traffic, real content, and enough working capital to ride out bad weeks.