Robinhood Takes Stakes in Crypto.com and OG.com, Signs Multi-Year Prediction-Market Infrastructure Deal

Robinhood has acquired equity stakes in cryptocurrency exchange Crypto.com and its affiliated prediction-market platform OG.com.

Cointelegraph reported on September 8 that Robinhood signed a multi-year agreement to use OG.com’s US Commodity Futures Trading Commission-regulated derivatives exchange and clearing infrastructure. It also acquired initial stakes in both Crypto.com and OG.com. The purchase price was based on the valuation used when Citadel Securities invested in the two platforms earlier. The size of the stakes and the amount invested were not disclosed.

Under the agreement, Robinhood will process event contract orders from eligible US customers through OG.com’s infrastructure in the United States. The service began rolling out that day.

OG.com is an independent company spun off from Crypto.com with a $5 billion valuation. OG.com Chief Executive Officer Kris Marszalek said the company plans to expand beyond prediction markets into futures and perpetual futures contracts.

Robinhood has steadily expanded its prediction-market infrastructure since launching a prediction-markets hub with Kalshi, a CFTC-regulated exchange, in March 2025. Its event contracts business generated $156 million in revenue in the second quarter alone, more than 10 times the level a year earlier. That topped $129 million in stock-trading commission revenue and $100 million in crypto revenue over the same period. Bernstein estimated that Robinhood’s revenue by 2028 could reach $1.7 billion, including prediction markets.

Meanwhile, the prediction-market industry faces mounting legal disputes as US states seek to apply gambling laws to the business. A Nevada court in April extended an order barring Kalshi from offering event contracts without a gaming license. New Jersey recently petitioned the US Supreme Court to determine whether states have the authority to regulate sports event contracts. New Jersey Attorney General Jennifer Davenport said companies such as Kalshi are refusing to comply with state gambling laws while claiming to offer legal sports betting nationwide, and urged the court to resolve the jurisdictional question.