Robinhood has entered a multi-year agreement with Crypto.com and its spun-off prediction markets platform OG.com, taking minority equity stakes in both companies while adding their regulated infrastructure for event contracts. The arrangement allows Robinhood to route selected retail event contracts through OG.com’s Commodity Futures Trading Commission-regulated derivatives exchange and clearinghouse, with a phased rollout for eligible U.S. customers beginning on September 8.

Equity Stakes and Valuation Terms

Under the deal, Robinhood receives initial minority equity positions in Crypto.com and the independent OG.com platform. The stakes are priced according to the valuations set by a recent Citadel Securities investment. Crypto.com was valued at $20 billion in that transaction, while OG.com carried a standalone valuation of $5 billion following its separation from the crypto exchange.

Neither company disclosed the size of Robinhood’s holdings or the amount paid. OG.com now operates as a separate entity with its own capital and management, focusing on prediction markets, futures, perpetual contracts and related derivatives while Crypto.com continues its core digital asset exchange business.

Robinhood Vice President and General Manager of Futures and Prediction Markets JB Mackenzie said the equity component provides 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 stated, noting continued growth in customer demand for contracts tied to public events.

Rollout Begins with Football Contracts

Selected football contracts are among the first products to be routed through the new provider as the U.S. professional football season gets underway. OG.com-backed contracts will appear gradually in the Robinhood app for eligible customers. Contracts covering economic indicators, elections, sports and cultural events may follow, each offering a yes-or-no position on a defined outcome that settles according to the specified result.

Robinhood already sources event contracts from multiple providers rather than relying on a single exchange. The company launched its prediction markets hub with Kalshi in March 2025 and later added ForecastEx and Rothera, its exchange venture with Susquehanna International Group. The new partnership expands that network with another federally regulated venue.

Prediction Markets Drive Rising Revenue

Event contracts generated $156 million in revenue for Robinhood in the second quarter, a quarterly record that marked more than a tenfold increase from the prior year. The figure surpassed the company’s $129 million in equities transaction revenue and $100 million from crypto trading in the same period.

Analysts at Bernstein have projected that Robinhood’s prediction markets revenue could reach $586 million in 2026, up from an estimated $150 million in 2025, with the broader business potentially contributing a meaningful share of transaction-based and total company revenue. The firm previously estimated overall revenue including prediction markets could approach $1.7 billion by 2028.

Robinhood is also preparing a dedicated election hub ahead of the November 2026 U.S. midterms that will feature contracts linked to state and federal races, with some products potentially routed through the new partners.

Regulatory Backdrop and Market Response

Although OG.com operates under CFTC oversight, prediction market operators continue to face legal challenges from states that argue sports-related event contracts should be treated under local gambling laws rather than federal derivatives rules. Court decisions have varied, with some states imposing temporary restrictions while others have seen federal judges block enforcement of local bans. Availability of the new contracts will depend on customer eligibility, specific contract terms and state-level rules in addition to federal status.

Shares of Robinhood traded near $122 on the day of the announcement. The token linked to Crypto.com, Cronos, rose approximately 5.3 percent to about $0.0604 during the session.

Crypto.com CEO Kris Marszalek separately described the partnership as a significant step, stating he was thrilled to work with Robinhood on prediction markets and calling it a game changer for both OG.com and Crypto.com.