Robinhood Teams with Crypto.com to Bring Football Contracts to Regulated Exchange
Robinhood's prediction markets business has made a significant move into crypto with its latest partnership. The company is partnering with Crypto.com and its newly independent trading platform OG.com to route football event contracts through their CFTC-regulated exchange and clearinghouse.
The deal, which takes effect on September 8, will see Robinhood routing a selection of football event contracts to Crypto.com's Derivatives North America, while a separate trader-focused app will run under the OG.com brand. As part of this deal, Robinhood Markets will also hold equity stakes in both Crypto.com and OG.com, priced in line with Citadel Securities' recent investment into Crypto.com Group at a $20 billion valuation.
This partnership is seen as a significant expansion for both companies, pairing Robinhood's massive and rapidly growing event contract volume with Crypto.com's newly spun-off OG.com platform. The deal signals the blurring of lines between crypto platforms and traditional prediction markets, with Marszalek describing this as just the beginning of a longer-term partnership.