Robinhood Takes Equity Stakes in Crypto.com and OG.com to Scale Prediction Markets
The brokerage is investing in the underlying infrastructure of event contracts to drive a high-growth revenue stream.
Robinhood announced a multi-year strategic agreement on September 8, 2026, to route selected retail event contracts through OG.com. The deal marks a significant shift for the brokerage, which is taking minority equity stakes in both Crypto.com and its prediction-markets spinoff, OG.com.
Under the terms of the agreement, Robinhood will utilize OG.com—a CFTC-regulated exchange and clearinghouse—as the primary infrastructure for its event-contract business. The equity stakes were priced based on valuations set by Citadel Securities in July, which valued Crypto.com at $20 billion and OG.com at $5 billion. To kick off the partnership, Robinhood is rolling out football-related contracts for eligible U.S. customers.
The Rise of Event Contracts
Robinhood has been aggressively expanding its prediction markets hub, which allows users to take "yes/no" positions on real-world outcomes. The company has previously partnered with entities such as Kalshi, ForecastEx, and its own venture, Rothera, to diversify its revenue beyond traditional trading. This expansion is already yielding significant financial results; Robinhood reported that its prediction markets business generated a record $156 million in revenue during the second quarter of 2026.
Strategic Implications
This move signals Robinhood's transition from a distributor of third-party contracts to a strategic investor in the underlying derivatives infrastructure. By securing a regulated pipeline through OG.com, Robinhood is positioning itself to capture more value from high-growth products like sports and election betting.
"Teaming up with Crypto.com and OG.com strengthens our position as a leader in the prediction markets space and gives us even more skin in the game," said JB Mackenzie, Robinhood VP and GM of Futures and Prediction Markets. The deal also elevates OG.com as a standalone player in the regulated derivatives space. Kris Marszalek, founder and CEO of Crypto.com and OG.com, stated that the goal is to make OG.com the most liquid venue globally for innovative instruments, starting with prediction markets before expanding into futures and perpetuals.
Market Outlook
The financial stakes for this pivot are substantial. According to estimates from Bernstein, Robinhood's prediction markets could generate $586 million in 2026, which would account for approximately 10% of the company's total annual revenue.
However, the broader industry continues to navigate a complex regulatory landscape. There remains ongoing legal tension between the federal jurisdiction of the CFTC and various state-level gambling regulations, particularly regarding the legality of sports-related contracts. Investors will be watching how Robinhood manages these regulatory hurdles as it scales its football offerings and looks toward other event-based derivatives.