Robinhood has signed a multi-year deal to route selected event contracts through OG.com while taking equity stakes priced against $20 billion and $5 billion valuations for Crypto.com and OG.com, respectively.
Summary
- Robinhood will route selected retail event contracts through OG.com’s federally regulated derivatives platform.
- Robinhood will receive initial equity stakes in both Crypto.com and the newly independent OG.com.
- OG.com-backed contracts will roll out gradually to eligible U.S. customers from Sep. 8.
- HOOD traded at $122.02, while Crypto.com-linked CRO gained about 5.3% to $0.0604.
Robinhood adds OG.com as an event-contract provider
Robinhood and OG.com announced the agreement on Sep. 8, confirming that the prediction market operator will provide exchange, clearing and infrastructure services for Robinhood’s event-contract business.
Under the multi-year arrangement, Robinhood will send part of its retail event-contract volume through OG.com’s derivatives exchange and clearinghouse. The platform operates under the oversight of the U.S. Commodity Futures Trading Commission, giving Robinhood another federally regulated provider for its U.S. prediction markets business.
Selected football contracts will be among the first products routed through the new provider as the U.S. professional football season begins. OG.com said its contracts will appear gradually in the Robinhood app for eligible U.S. customers, with the phased rollout starting on Sep. 8.
Contracts covering economic indicators, elections, sports, and cultural events could follow, according to the company announcement. Each contract gives traders a yes-or-no position on a defined result and settles according to the outcome specified in its terms.
Robinhood already sources contracts from several providers rather than relying on a single exchange. The brokerage launched its prediction markets hub with Kalshi in March 2025 before adding ForecastEx and Rothera, its exchange venture with Susquehanna International Group.
As crypto.news reported in July, Robinhood had been discussing an agreement with Crypto.com that would add another supplier to its existing network. The completed deal turns the proposed distribution arrangement into an equity relationship involving both Crypto.com and OG.com.
Robinhood receives stakes at $20 billion valuation
Alongside the infrastructure partnership, Robinhood will take initial minority stakes in Crypto.com and OG.com. Neither company disclosed the size of the investments or the amount Robinhood will pay.
Pricing for the stakes will follow Citadel Securities’ recent investment terms, according to the joint announcement. Crypto.com was valued at $20 billion in that transaction, while OG.com received a standalone valuation of $5 billion after separating from Crypto.com.
OG.com now operates as an independent company with its own capital allocation and management focus. Crypto.com retains its main digital asset exchange business, while the separated platform concentrates on prediction markets, futures, perpetual contracts, and related derivatives.
Kris Marszalek, founder and CEO of Crypto.com and OG.com, described the agreement as the start of a longer relationship between the companies.
“We’re looking forward to making OG.com the most liquid venue globally for innovative derivative instruments, starting with prediction markets and quickly expanding into futures and perpetuals.”
Robinhood Vice President and General Manager of Futures and Prediction Markets JB Mackenzie said the equity component gives the brokerage a direct financial interest in the infrastructure supporting its contracts.
“Teaming up with Crypto.com and OG.com strengthens our position as a leader in the prediction markets space and gives us even more skin in the game,” Mackenzie said. He added that customer demand for contracts linked to public events has continued to grow.
Prediction markets become a larger Robinhood business
The agreement adds capacity to a product line that generated $156 million in revenue for Robinhood during the second quarter, according to Reuters. The figure was a quarterly record for the company’s event-contract business.
Robinhood is also preparing a dedicated election hub ahead of the November 2026 U.S. midterms. According to Reuters, the hub will carry contracts linked to state and federal races, with some products potentially routed through Crypto.com and OG.com.
A June Bernstein revenue forecast estimated that Robinhood’s prediction markets could generate $586 million in 2026, up from $150 million in 2025. The research firm based its estimate partly on trading during the FIFA World Cup, when daily prediction market volume reached as much as $4.8 billion.
Bernstein also estimated that the business could contribute about 17% of Robinhood’s transaction-based revenue and 10% of total company revenue during 2026. According to the firm, Rothera processed about 200 million contracts during its first 18 days, with World Cup and Major League Baseball markets producing nearly all of that activity.
Prediction markets are one part of Robinhood’s recent product expansion. The company has also entered underwriting, allowing Robinhood Securities to help bring companies to public markets rather than limiting its role to distributing IPO shares through the brokerage app.
On the crypto side, Robinhood Chain has drawn heavy decentralized trading activity since its July 1 public launch. A Sep. 3 network activity review found that the Ethereum layer-2 network processed about $945 million in DEX volume on Aug. 25 and more than $47 billion in cumulative volume within its first two months.
The same review found that memecoin trading supplied a large share of the activity. Pons alone produced $445 million of the chain’s $874.8 million in volume on Aug. 30, while Robinhood’s tokenized stock products remain unavailable to U.S. residents.
U.S. rules remain contested across states
Although OG.com operates a CFTC-regulated exchange and clearinghouse, prediction market providers continue to face disputes over whether sports contracts fall under federal derivatives law or state gambling rules.
The CFTC has maintained in court filings that registered derivatives exchanges fall under its exclusive jurisdiction. State officials have argued that contracts based on sporting events operate like betting products and should comply with local licensing, age, and consumer-protection requirements.
In July, attorneys general from 44 states challenged the CFTC, asking the regulator to withdraw and rewrite its proposed rules for sports-related event contracts. The coalition said the proposal reached beyond the agency’s authority and entered an area traditionally supervised by states.
Court decisions have produced different results across the country. Judges in Michigan and Washington temporarily restricted certain sports contracts, while a federal judge blocked Minnesota from enforcing its prediction market ban as litigation continued.
Availability on Robinhood will therefore depend on customer eligibility, individual contract terms, and state-level restrictions in addition to OG.com’s federal status. The rollout announcement did not provide a full list of states where the new contracts will be offered.
HOOD traded at $122.02 at 14:52 UTC on Sep. 8, down about 0.07% for the session after moving between $119.51 and $126.51. Crypto.com-linked Cronos gained about 5.3% to $0.0604 over the same daily period, with an intraday range of roughly $0.0565 to $0.0640.
