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Robinhood expands prediction markets via Crypto.com and OG.com partnerships
Robinhood also will take equity stakes in Crypto.com and OG.com priced to Crypto.com's $20 billion valuation and routed contracts will still run through Kalshi, ForecastEX and Rothera.
Robinhood is expanding its prediction markets business with partnerships tied to Crypto.com and OG.com, including routing selected event contracts to OG.com as football contracts roll out.
Under the deal, Robinhood will also acquire equity stakes in Crypto.com and OG.com, with the equity valued in line with Citadel Securities' recent investment in Crypto.com Group at a $20 billion valuation, according to The Block. Robinhood said the approach is intended to create a more resilient marketplace by sending event contracts to multiple venues.
Robinhood said contracts on its platform will continue to be routed to other venues including Kalshi, ForecastEX and Rothera. It also plans new prediction-market features for customers, including a dedicated election hub with interactive heat maps and post-poll updates showing how many votes were counted and what percent of expected votes that represents.
The Block reports that Robinhood recorded “record revenues and volumes” in the first eight months of the year. In Q2, it traded 13.6 billion event contracts, including 5 billion during the World Cup, generating about $156 million in revenue, a 50% increase from the prior quarter.