Robinhood Taps OG.com for Regulated Event-Contract Infrastructure
R Robinhood is expanding its event-contract infrastructure in the US by partnering with OG.com, a CFTC-regulated derivatives exchange and clearinghouse spun off from Crypto.com. The agreement, announced on PR Newswire, will allow Robinhood to route retail event contracts through OG.com's regulated platform, starting Tuesday for eligible customers.
As part of the deal, Robinhood is taking equity stakes in both Crypto.com and OG.com, priced at valuations set by an earlier investment from Citadel Securities. The companies did not disclose the size or value of the holdings. This infrastructure partnership marks a significant shift for Robinhood's prediction markets business, which has grown quickly since its launch in March 2025.
The partnership arrives as state authorities are pushing back on the classification of event contracts. In April, a Nevada judge ruled that Kalshi's event contracts were effectively indistinguishable from traditional betting and required a gaming license to operate in the state. New Jersey has petitioned the US Supreme Court to consider whether states can regulate sports contracts offered on CFTC-regulated prediction markets.
Robinhood's revenue, including prediction markets, could reach $1.7 billion by 2028, according to Bernstein analysts' estimates. However, regulatory and court fights have created uncertainty around the business. For investors and traders, these cases are crucial in defining product boundaries, market access, and compliance costs.