Robinhood takes stakes in Crypto.com and its prediction-markets business

Robinhood Markets is expanding its prediction-markets business through a multiyear partnership with Crypto.com that will bring the exchange’s yes-or-no event contracts to Robinhood’s trading app and give Robinhood minority stakes in Crypto.com and its prediction-markets unit.

The partnership follows discussions reported in July about expanding Robinhood’s event-contract offerings. Crypto.com has spun out OG, its prediction-markets platform, as a standalone company.

Robinhood has been building its presence in prediction markets, first partnering with Kalshi before expanding to other providers, while its Rothera derivatives exchange also focuses on event contracts.

Crypto.com CEO Kris Marszalek said prediction markets are only the first product the companies expect to launch together and that they have discussed equity-linked perpetual futures pending regulatory approval.

The companies expect the partnership to attract more retail traders and institutions as competition intensifies, with football season and the midterm elections providing key opportunities for event-contract trading.

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