Robinhood Partners with OG.com for Prediction Markets Expansion

Ronald Kahn and Vlad Tenev's Robinhood is expanding its prediction markets business through a partnership with OG.com, the trading platform spun off from Crypto.com. The multi-year agreement will route retail event-contract volume through OG.com's CFTC-regulated derivatives exchange and clearing infrastructure, starting on September 8 for eligible US customers.

As part of the deal, Robinhood will receive equity stakes in both OG.com and Crypto.com, with the stakes priced at $5 billion for OG.com following the spin-off. The joint statement says this is OG.com's largest business-to-business prediction-markets partnership by transaction volume.

Crypto.com's founder Kris Marszalek said of the partnership: 'This is the beginning of a strategic partnership between both companies.' He added that they're looking forward to making OG.com the most liquid venue globally for innovative derivative instruments, starting with prediction markets and expanding into futures and perpetuals.