Robinhood announced Tuesday it will take minority equity stakes in both Crypto.com and OG.com, positioning itself deeper inside the infrastructure behind its fastest-growing product line. The multi-year deal makes OG.com, Crypto.com’s separately capitalised prediction markets platform, the official infrastructure and clearing provider for Robinhood’s Prediction Markets business.
What the Deal Covers
Under the agreement, OG.com will process and settle trades placed by Robinhood customers on event contracts. Robinhood will route retail volume through OG.com’s exchange, which is regulated by the Commodity Futures Trading Commission. The companies described it as OG.com’s largest business-to-business partnership by trading volume. The rollout begins in phases for eligible U.S. customers starting September 8.
Crypto.com launched OG.com as a standalone prediction markets app in February and has since spun it off into its own separately capitalised company valued at $5 billion. Robinhood’s equity stakes in both Crypto.com and OG.com are priced in line with Citadel Securities’ July investment, which gave Crypto.com its first-ever institutional funding round and valued the exchange at $20 billion.
Market Reaction
Financial markets responded immediately. Robinhood shares, trading under the ticker HOOD, climbed roughly 3.4% in premarket Tuesday to around $126. Crypto.com’s native CRO token jumped more than 6% to around $0.06, touching a daily high of $0.065. That recovery is notable: CRO had slumped to a three-year low a month earlier after Trump Media Group cancelled a separate set of deals with Crypto.com.
Executive Commentary
Crypto.com founder and CEO Kris Marszalek called the partnership a ‘game changer,’ stating in an announcement that he wants OG.com to become ‘the most liquid venue globally for innovative derivative instruments.’ Robinhood VP JB Mackenzie said the deal ‘gives Robinhood even more skin in the game’ as customer demand for event contracts keeps climbing.
Why Robinhood Is Stacking Infrastructure Partners
Robinhood originally built its prediction markets offering on top of Kalshi’s contracts. It then began shifting volume to Rothera, its own CFTC-licensed exchange operated as a joint venture with trading firm Susquehanna International Group, which was tested during this year’s World Cup. Adding OG.com now gives Robinhood a third distinct infrastructure supplier, reducing dependency on any single provider.
The scale of Robinhood’s prediction markets growth explains the urgency. Event contract revenue surged more than 10-fold year-over-year, reaching $156 million in the second quarter. Over the same period, crypto trading revenue fell 38%. Prediction markets have become the company’s fastest-growing business line.
Crypto.com’s Broader Regulatory Push
For Crypto.com, the OG.com spin-off is part of a broader positioning effort. The exchange won conditional approval for a U.S. national trust bank charter in February. Separating OG.com into a standalone, separately capitalised entity is another step toward presenting itself as regulated financial infrastructure. Both companies flagged the next product milestone: equity-linked perpetual futures, subject to regulatory clearance.
- Deal priced at Citadel Securities’ July valuation: Crypto.com at $20 billion, OG.com at $5 billion
- OG.com becomes Robinhood’s largest B2B partner by trading volume
- Rollout begins September 8 for eligible U.S. customers
- Equity-linked perpetual futures flagged as the next step, pending regulatory approval
