Robinhood Teams Up With Crypto.com on Prediction Markets, to Add Ozzy.com Products
Minseung Kang
Summary
- Robinhood said it will expand its prediction-market products business through a partnership with Crypto.com.
- It plans to add Ozzy.com prediction-market products from under the Crypto.com umbrella to Robinhood.
- Robinhood said the partnership will also leave it holding minority stakes in Crypto.com and Ozzy.com.
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Robinhood is expanding its prediction-markets business through a partnership with Crypto.com.
Odaily, a digital-asset media outlet, reported on September 8 that Robinhood signed a prediction-markets partnership agreement with Crypto.com. Under the deal, Robinhood plans to add prediction-market products offered by Ozzy.com, a platform under Crypto.com.
Prediction-market products allow users to invest in the outcome of specific events, such as interest-rate decisions or election results.
As part of the partnership, Robinhood will also take minority stakes in Crypto.com and Ozzy.com.
Ozzy.com was valued at about $5 billion after receiving an investment from Citadel Securities in July.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.