Robinhood Expands Prediction Markets with Crypto.com Partnership

Robinhood is expanding its prediction-markets business through a multi-year partnership with Crypto.com and its OG.com platform.

The move allows Robinhood customers to trade event contracts on another regulated venue, as volumes continue to climb, over 30 billion contracts were traded in the first eight months of this year alone.

OG.com operates a Commodity Futures Trading Commission-regulated exchange and clearinghouse, and Robinhood is taking equity stakes in both OG.com and its parent, Crypto.com.

The partnership is part of Robinhood's strategy to distribute event contracts through multiple venues, helping create a stronger, more diverse marketplace according to JB Mackenzie, Robinhood's vice president and general manager of futures and prediction markets.