Robinhood expands its prediction market footprint through a strategic partnership and equity investment in Crypto.com, aiming to capture growing volume in event-based trading.
Robinhood is aggressively expanding its event-based contract offerings through a new multi-year partnership with Crypto.com and its spin-off, OG.com. This strategic move builds on the company's existing momentum, where event contract revenue grew over 10x year-over-year to $156 million in the second quarter, positioning the firm to capture increased trading volume during the football season and midterm elections.
Robinhood will carry Crypto.com's OG.com event contracts on its app and has acquired minority stakes in both Crypto.com and OG.com.
It is a rapidly growing segment, with revenue climbing over 10x year-over-year to $156 million in the second quarter.
Meta is actively entering the prediction markets space, with CEO Mark Zuckerberg directing a team to develop a competing application. While the article does not detail the specific impact on Meta's financials, this initiative signals a strategic pivot to capture the growing volume in the prediction market sector, which has seen over $130 billion in trading volume in 2026 alone.
Yes, CEO Mark Zuckerberg has directed a team to build a competing prediction markets app.
DraftKings is identified as an established sports betting operator that has entered the prediction markets space to compete with platforms like Kalshi and Polymarket. As the sector experiences explosive growth, DraftKings' entry leverages its existing betting infrastructure to capture volume from users interested in event-based contracts.
DraftKings has entered the prediction markets space as part of the broader competitive landscape alongside other sports betting operators.
Robinhood Markets has entered a multi-year partnership with Crypto.com to integrate yes-or-no event contracts into its trading platform. The brokerage also acquired minority stakes in Crypto.com and its spin-off prediction-market unit, OG.com, as it seeks to capitalize on the surging demand for event-based derivatives ahead of the midterm elections.
Robinhood is targeting high-growth areas like event contracts to diversify revenue, noting that trading volume in this sector has seen exponential growth, particularly around major political and sporting events.