Robinhood Dives Deeper Into Prediction Markets with Crypto.com Deal
Retail brokerage Robinhood is expanding its push into prediction markets through a multi-year partnership with Crypto.com and OG.com, a derivatives exchange registered with the US Commodity Futures Trading Commission (CFTC).
As part of the agreement, Robinhood will route certain football-related retail contracts through OG.com and take minority equity stakes in both Crypto.com and OG.com.
The move comes as prediction markets become a growing part of Robinhood's business, with over 45 billion contracts traded on its platform since launch. The partnership also highlights the increasing demand for event contracts among investors, according to JB Mackenzie, VP and GM of Futures and Prediction Markets at Robinhood.
Robinhood is working with multiple venues, including Kalshi, ForecastEx, and Rothera, to diversify the sources of event contracts available to its customers. The expansion into prediction markets is part of a broader strategy to offer alternative investment products alongside crypto and tokenized equities.