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Robinhood buys minority stakes in Crypto.com and OG.com
The phases for eligible U.S. customers begin September 8, with OG.com acting as an exchange, infrastructure, and clearing provider for Robinhood’s event contracts.
Robinhood said Tuesday it will take minority equity stakes in Crypto.com and OG.com as it expands the infrastructure behind its prediction markets business.
In the deal, OG.com will function as an infrastructure and clearing provider, processing and settling trades after customers place event contracts. Robinhood will route retail volume through OG.com's exchange, which is regulated by the Commodity Futures Trading Commission, according to the companies.
The agreement begins rolling out in phases to eligible U.S. customers starting September 8, while the equity investment moves in the opposite direction. The report also said the equity stakes are priced in line with Citadel Securities’ July investment in Crypto.com.
Robinhood VP JB Mackenzie said the arrangement gives the company “even more skin in the game” as demand for event contracts continues to rise. Yahoo Finance also notes that Robinhood built its prediction markets hub on Kalshi contracts before shifting volume to Rothera, its own CFTC-licensed exchange run as a joint venture with Susquehanna International Group, and that adding OG.com provides a third infrastructure supplier instead of relying on a single provider.