Robinhood Teams with Crypto.com and OG.com for Enhanced Event Contract Offerings
Retail broker Robinhood has partnered with Crypto.com and OG.com to enhance its event contract offerings, specifically for live football events. According to a September 8 newsroom post, Robinhood will hold equity in both companies after OG.com's spin-off.
The stake is valued at around $20 billion, based on Citadel Securities' recent valuation of Crypto.com Group. However, the exact size of the stake remains undisclosed.
Rather than a straightforward software integration, this partnership can be seen as a capital-backed routing deal. Robinhood already routes event contracts across several CFTC venues, including OG.com and Kalshi.
The move aims to address Robinhood's growing needs for football depth and an additional CFTC rail before the midterms. Crypto.com and OG.com, on the other hand, seek to prove OG.com as a liquid derivatives venue by attracting retail flow from Robinhood.