Robinhood Bolsters Prediction Markets with OG.com, Crypto.com Tie-Up

Retail trading platform Robinhood is expanding its push into prediction markets by routing some football event contracts through OG.com's federally regulated exchange.

The move comes as the company takes equity stakes in OG.com and its former parent Crypto.com, with the stakes priced in line with Citadel Securities' recent investment in Crypto.com at a $20 billion valuation.

Routing selected football contracts to OG.com will add another trading venue alongside Robinhood's existing partners ahead of the U.S. professional football season.

Prediction markets generated a record $156 million in second-quarter revenue for Robinhood, emerging as an increasingly important growth driver for the company.