Full Breakdown
Robinhood Partners with Crypto.com and OG.com to Expand Prediction Markets
9/8/2026, 8:40:13 PM
Core Partnership Announcement
Robinhood Markets, Inc. has entered a multiyear agreement with Crypto.com and its spin-off prediction-markets platform OG.com. Under the deal, Robinhood will route a selection of football-related event contracts to OG.com’s Commodity Futures Trading Commission-regulated exchange and clearinghouse. The rollout to eligible U.S. customers is scheduled to begin on September 8, 2026. In addition to the routing arrangement, Robinhood will acquire minority equity stakes in both Crypto.com and OG.com, with pricing tied to the recent Citadel Securities investment that valued the combined Crypto.com Group at $20 billion.
Background & Context
Robinhood first launched its prediction-markets offering through a partnership with Kalshi and later added the joint-venture exchange Rothera, managed with Susqueña International Group. The unit has become a fast-growing revenue source, recording record activity in the second quarter of 2026. The new partnership adds a third regulated venue, diversifying liquidity sources ahead of the U.S. professional football season and the 2026 midterm elections.
Data & Statistics
- 13.6 billion event contracts were traded on Robinhood’s Prediction Markets Hub in Q2 2026, more than ten times the prior-year level.
- Over 5 billion contracts were traded during the 2022 World Cup period.
- Event-contract revenue reached $156 million in Q2 2026, surpassing both cryptocurrency revenue ($100 million) and equity-option revenue ($129 million).
- Event contracts accounted for roughly one-fifth of Robinhood’s $776 million transaction-based revenue in the quarter.
Conflicting Reports & Gaps
Sources differ on the valuation underpinning Robinhood’s equity stakes. Robinhood’s own release ties the pricing to a $20 billion valuation for the Crypto.com Group, while a Wall Street Journal report places Crypto.com at $15 billion and OG.com at $5 billion. Neither party disclosed the exact size of the equity positions or any governance rights. Additionally, the regulatory landscape remains unsettled; state-level challenges to sports-related event contracts persist, and the impact of those disputes on the new routing arrangement has not been clarified.
Why It Matters
The agreement expands Robinhood’s contract inventory and clearing capacity, potentially accelerating product launches and improving pricing for retail traders. By holding minority stakes, Robinhood aligns its financial interests with the growth of the underlying exchange infrastructure, a shift from a pure distribution model to an investment-linked partnership. The move also intensifies competition among prediction-market providers such as Kalshi and Polymarket, while navigating ongoing legal friction between federal derivatives oversight and state gambling regulations.
Verbatim Quotes
- “This is the beginning of a strategic partnership between both companies,” — Kris Marszalek, com CEO
- “Routing event contracts to multiple venues helps create a stronger, more diverse and resilient marketplace,” — JB Mackenzie, VP and GM of Futures and Prediction Markets at Robinhood
- “Teaming up with Crypto.com and OG.com strengthens our position as a leader in the prediction-markets space and gives us even more skin in the game.” — JB Mackenzie, VP and GM of Futures and Prediction Markets at Robinhood
