Robinhood has announced a multi-year partnership with OG.com, the recently spun-off trading platform from Crypto.com, to expand its prediction markets business.
Under the agreement, Robinhood will route retail event-contract volume through OG.com's CFTC-regulated derivatives exchange and clearing infrastructure. The service becomes available September 8 for eligible US customers. OG.com will serve as Robinhood's infrastructure and clearing partner for the venture.
According to the joint statement, this represents OG.com's largest business-to-business prediction-markets partnership by transaction volume.
As part of the deal, Robinhood will receive equity stakes in both OG.com and Crypto.com. The valuations align with Citadel Securities' recent investment in Crypto.com Group, which valued the broader entity at $20 billion. OG.com was valued at $5 billion following its separation from Crypto.com.
Kris Marszalek, Founder and CEO of Crypto.com and OG.com, stated in the announcement: "This is the beginning of a strategic partnership between both companies. We're looking forward to making OG.com the most liquid venue globally for innovative derivative instruments, starting with prediction markets and quickly expanding into futures and perpetuals."
Following the announcement, CRO, the native token of the Crypto.com ecosystem, rose from $0.057 to $0.063 during the week, remaining above $0.06.
CRO had faced headwinds a month prior when Trump Media Group canceled two deals with Crypto.com, including an agreement to accumulate CRO as a strategic asset. That cancellation sent the token to a three-year low below $0.045.
