Robinhood expands its prediction market footprint through a strategic partnership with Crypto.com and OG.com, securing equity in the $5 billion derivatives platform ahead of the professional football season.
Robinhood is strategically expanding its prediction market offerings by partnering with Crypto.com and its derivatives platform, OG.com, to route football prediction contracts. This move is bolstered by the acquisition of equity stakes in both entities, which are valued at $20 billion and $5 billion respectively, potentially diversifying Robinhood's revenue streams and strengthening its market position in event-based trading.
The partnership aims to expand Robinhood's prediction markets business by routing football prediction contracts to OG.com's CFTC-regulated exchange.
Robinhood will receive equity stakes in both Crypto.com and the newly independent derivatives platform, OG.com.
Robinhood is scaling its prediction markets by routing football event contracts to the CFTC-regulated OG.com platform. The strategic partnership includes equity stakes in both Crypto.com and the newly independent OG.com, which carries a $5 billion valuation.
Robinhood is expanding its capacity by routing football prediction contracts to OG.com's CFTC-regulated clearinghouse, allowing for increased volume and regulatory compliance.