Robinhood Teams Up with OG.com on Event-Contract Business

Roger McNamee would be proud - Robinhood is expanding its event-contract business. The fintech giant has partnered with OG.com, a derivatives platform operated by Crypto.com's founder Kris Marszalek, to route selected retail event contracts through their federally regulated exchange and clearinghouse. This deal includes an equity stake for Robinhood in both companies.

The partnership will allow Robinhood to offer more innovative derivative instruments to its customers, starting with prediction markets and expanding into futures and perpetuals. The company's Vice President and General Manager of Futures and Prediction Markets JB Mackenzie stated that the agreement 'strengthens our position as a leader in the prediction markets space'.

Routine contracts will be among the first products routed through OG.com, but other event-based contracts covering economic indicators, elections, sports, and cultural events could follow. Each contract gives traders a yes-or-no position on a defined result and settles according to the outcome specified in its terms.