Robinhood Enters Prediction Markets Through Partnership with Crypto.com Spin-Off

Robinhood has made a significant move into the prediction markets space by partnering with OG.com, a trading platform recently spun off from Crypto.com. The multi-year deal allows Robinhood to route retail event-contract volume through OG.com's CFTC-regulated derivatives exchange and clearing infrastructure.

The partnership is set to begin on September 8 for eligible US customers, with OG.com expecting this to be its largest business-to-business prediction-markets partnership by transaction volume. As part of the deal, Robinhood will receive equity stakes in both OG.com and Crypto.com, valued at $5 billion and $20 billion respectively.

Crypto.com's Founder and CEO Kris Marszalek said 'This is the beginning of a strategic partnership between both companies... We're looking forward to making OG.com the most liquid venue globally for innovative derivative instruments.'

Following the announcement, the native token CRO rocketed from $0.057 to a weekly peak at $0.063.