Robinhood and Crypto.com Team Up on Prediction Markets

Retail trading platform Robinhood has announced a multi-year partnership with Crypto.com to expand its prediction markets business. The deal will see Robinhood integrate Crypto.com's binary event contracts into its trading ecosystem and acquire minority ownership positions in both Crypto.com and OG, the latter being Crypto.com's dedicated prediction markets division.

The partnership is seen as a strategic milestone for Robinhood's expansion efforts, with the company's VP JB Mackenzie stating that it will enable the platform to deliver more competitive pricing alongside an expanded selection of trading contracts. According to Mackenzie, the timing aligns perfectly with major events such as football season and midterm elections.

The deal also involves the consideration of equity-linked perpetual futures, subject to regulatory clearance. Crypto.com has experienced significant growth since its valuation was established at $15 billion in July, courtesy of an investment from Citadel Securities. OG, which was spun off as an independent platform this February, has seen a 20-fold increase in growth throughout the current year.