Highlights
- Robinhood struck a multiyear deal to list Crypto.com's yes-or-no event contracts from its newly spun-out OG.com platform.
- Robinhood is taking minority equity stakes in both Crypto.com and OG as part of the agreement.
- OG was valued at $5 billion and Crypto.com at up to $20 billion in a July funding round led by Citadel Securities.
- The deal expands Robinhood's prediction-markets lineup beyond its existing Kalshi, ForecastEx and Rothera partnerships.
Robinhood Adds a Fourth Prediction-Markets Partner
Robinhood has struck a multiyear partnership with Crypto.com to bring the exchange's yes-or-no event contracts onto its trading app, while taking minority equity stakes in both Crypto.com and its newly spun-out prediction-markets unit, OG.com. The deal, which surfaced after weeks of reported negotiations, gives Robinhood a fourth prediction-markets supplier alongside its existing Kalshi, ForecastEx and Rothera partnerships, and gives Crypto.com a direct distribution channel into Robinhood's tens of millions of retail brokerage accounts.
Terms of Robinhood's investment were not disclosed, though Crypto.com CEO Kris Marszalek described the event-contracts tie-up as the first of several products the two companies plan to build together.
A Sector Getting Re-Rated in Real Time
The financial backdrop to the deal is a rapid re-rating of the prediction-markets sector. Crypto.com's OG.com platform has grown roughly 20-fold over the past year, according to Marszalek, and in July, Citadel Securities invested in both companies at valuations of roughly $5 billion for OG and as much as $20 billion for Crypto.com as a whole. Robinhood's own prediction-markets push has been building for months: the company launched its hub in March 2025 using Kalshi as its initial CFTC-compliant supplier before adding ForecastEx and Rothera, and Bernstein analysts recently raised their price target on Robinhood stock to $160 from $130, citing prediction markets and tokenized equities as key growth drivers and estimating the segment alone could generate $1.7 billion in revenue for Robinhood by 2028. The sector's underlying volume growth supports that optimism: combined trading across Kalshi and Polymarket, the two largest prediction-market platforms, hit roughly $50 billion in all of 2025 and has already surpassed $130 billion so far in 2026, a pace that has drawn in an expanding list of brokerages, exchanges and now traditional-finance-adjacent players competing for distribution. The two companies have also discussed extending the partnership to equity-linked perpetual futures, though that product would require additional regulatory approval before launch.
Related: Kalshi, Polymarket Combined Volume Falls 14.5% in August, First Drop in a Year
Why Both Sides Wanted This Deal
For Robinhood, the deal is as much about diversifying supply as it is about economics: by adding a fourth prediction-markets partner, the company reduces its dependence on any single contract provider and gains access to Crypto.com's crypto-native user base and its faster-growing OG contract lineup, which skews toward crypto and macro event contracts rather than the political and sports contracts that dominate Kalshi's volume. The minority equity stakes also give Robinhood indirect upside in Crypto.com's and OG's own growth, converting what would otherwise be a pure distribution arrangement into something closer to a strategic investment. For Crypto.com, the arrangement is a validation of its decision to spin OG out as a standalone business rather than keep prediction markets bundled inside its core exchange, and a distribution deal with a US retail brokerage of Robinhood's scale is likely to accelerate OG's already rapid growth curve. Robinhood's stock rose roughly 3% on the day the deal was announced, a reaction that reflects how closely the market is now tracking the company's prediction-markets expansion as a distinct growth driver alongside its core brokerage business. The broader read for crypto and fintech markets is that prediction markets have moved from a niche, politically-charged product category into a mainstream feature that established platforms feel they need to offer, echoing how spot crypto trading and options access became table-stakes additions for retail brokerages over the past several years.
What to Watch Next
The near-term catalyst to watch is Robinhood's broader push into new revenue lines and its next earnings report, where analysts will be looking for early revenue contribution from the expanded prediction-markets lineup and any updated guidance following Bernstein's $1.7 billion 2028 revenue estimate for the segment. Regulatory approval will also determine how far the partnership can go: the discussed equity-linked perpetual futures product cannot launch without sign-off from US regulators, and the pace of that approval process will shape whether Crypto.com's OG contracts remain a modest add-on to Robinhood's existing lineup or become a meaningfully larger part of its business. Investors should also watch whether Kalshi or Polymarket respond with distribution deals of their own to defend market share.
FAQ
What did Robinhood and Crypto.com actually agree to?
Robinhood will list yes-or-no event contracts from Crypto.com's OG.com platform on its app under a multiyear deal, and Robinhood is taking minority equity stakes in both Crypto.com and OG.
How much are Crypto.com and OG worth?
A July funding round led by Citadel Securities valued OG at roughly $5 billion and Crypto.com at as much as $20 billion.
Is this Robinhood's only prediction-markets partner?
No. Robinhood already offers contracts through Kalshi, ForecastEx and Rothera; Crypto.com's OG.com becomes its fourth supplier.
Could Robinhood and Crypto.com expand the partnership further?
Yes. The companies have discussed adding equity-linked perpetual futures, though that product would need regulatory approval before it could launch.
