Robinhood Markets Expands Prediction Markets Business with Crypto.com in a partnership with its new independent derivatives platform OG.com. This partnership adds another venue for the growing event-contract operation by Robinhood.
As per the agreement, Robinhood will route some of its football prediction contracts to OG.com’s derivatives exchange and clearinghouse, regulated by the U.S. Commodity Futures Trading Commission (CFTC). The initial contracts are set to go live ahead of the new U.S. professional football season.
OG.com joins Kalshi, ForecastEX, and Rothera as venues handling Robinhood’s event contracts. The routing of contracts among the exchanges will be based on various factors including availability, as per Robinhood.
“Routing event contracts to multiple venues helps create a stronger, more diverse, and resilient marketplace,” said JB Mackenzie, Vice President, and General Manager of futures and prediction markets at Robinhood.
As a part of the partnership, Robinhood will acquire equity stakes in both Crypto.com and OG.com, with pricing based on Citadel Securities’ recent investment in Crypto.com Group valuing it at $20 billion. Additionally, the deal values OG.com at $5 billion following its planned spin-off as an independent trading platform.
The partnership comes at a time when prediction markets are becoming increasingly significant for Robinhood’s business. Record numbers of 13.6 billion event contracts were traded in the second quarter, generating a remarkable $156 million in revenue from the products.
During the FIFA World Cup alone, over 5 billion contracts were traded, and in total, customers have traded more than 45 billion prediction-market contracts since the business launched around two years ago. A further 30 billion contracts have been traded through August this year.
Robinhood is also enhancing its prediction-market products, introducing live data and a dedicated hub for football contracts. The company is gearing up for a separate hub for the 2026 U.S. midterm elections, covering both state and federal races, with some contracts potentially routed to Crypto.com and OG.com.
Prediction markets provide “yes” or “no” contracts on the outcomes of sports, political, and economic events. Supporters argue that these markets capture the “wisdom of crowds,” while critics have compared them to gambling. Regulatory authorities have also increased their oversight of these products due to concerns around potential insider trading.
The popularity of these markets increased during the 2024 U.S. presidential election and there has been strong demand around major sporting events as well.
Robinhood’s expansion into prediction markets accompanies increased activity in its digital asset business. Robinhood Chain recently saw a record $1.33 billion in 24-hour decentralized exchange volume, largely driven by renewed retail speculation in meme coins and growing interest in tokenized assets.