Robinhood Markets announced on September 8 a multiyear agreement naming OG.com as an infrastructure and clearing partner for its prediction markets business. Under the deal, Robinhood will take minority equity stakes in both OG.com and Crypto.com, priced in line with Citadel Securities' recent investments at a $20 billion combined valuation, with OG.com valued at $5 billion.
Selected football event contracts began routing through OG.com's Commodity Futures Trading Commission-regulated exchange on the announcement date, ahead of the U.S. professional football season. OG.com operates as a standalone company following its spinoff from Crypto.com.
The arrangement differs from recent industry trends. Other major platforms, including Coinbase and DraftKings, have moved to own both their customer bases and exchanges. Robinhood instead is partnering with a third party and acquiring a stake in it.
Crypto.com Chief Executive Kris Marszalek framed the partnership as an opening move, telling the Wall Street Journal that prediction-market event contracts are the first product the companies will launch together. The firms have also discussed equity-linked perpetual futures pending regulatory approval.
Robinhood's event contract business has grown significantly. Event contract revenue reached a record $156 million in the second quarter, climbing more than tenfold year over year. The number of contracts traded also rose more than tenfold to a record 13.6 billion during the quarter. The company reported total net revenues of $1.31 billion for the quarter, up 32%.
Robinhood is also expanding election-related contracts ahead of the November midterms with a dedicated hub for state and federal races, some of which could later be routed to Crypto.com and OG.com.
Competition in the prediction markets sector has intensified. Combined trading volume on Kalshi and Polymarket reached $50 billion last year and has exceeded $130 billion in 2026 so far. Major technology and sports companies have entered the market, including Meta and sportsbook operators FanDuel and DraftKings.
