Author: ahboyashreads
Compiled by Deep潮 TechFlow
DeepChaohao summary: Robinhood, through Crypto.com’s prediction market platform OG.com, has launched event contracts and acquired a minority stake. This marks a new convergence point between traditional brokerages and crypto platforms within regulatory gray areas—investors should note that prediction markets are transitioning from crypto-native to mainstream brokerage channels.
In the first eight months of this year, Robinhood’s prediction market set new records for both revenue and trading volume. In the second quarter alone, 13.6 billion event contracts were traded on Robinhood; during the World Cup alone, over 5 billion contracts were traded. In June of this year, we also began routing contracts to Rothera—an exchange and clearinghouse licensed by the CFTC and independently operated by a joint venture between Robinhood and Susquehanna International Group—to bring greater diversity to our markets.
Today, we’re building on this momentum by partnering with Crypto.com to route a portion of our event contracts to their CFTC-regulated exchange and clearinghouse, in place ahead of the professional football season. This CFTC-regulated exchange and clearinghouse operates under the brand Crypto.com | Derivatives North America (CDNA) within the Crypto.com App, and also offers a standalone trader app branded as OG.com. Starting September 8, we will route a portion of our football contracts to OG.com.
As part of the transaction, following the spin-off of OG.com into an independent trading platform, Robinhood Markets will hold equity stakes in both Crypto.com and OG.com. The valuation of this equity stake will align with Citadel Securities’ recent investment in Crypto.com Group, reflecting a $20 billion valuation.
“Routing event contracts to multiple venues helps build a stronger, more diverse, and more resilient market,” said JB Mackenzie, Vice President and General Manager of Futures and Prediction Markets at Robinhood. “As the football season returns and the midterm elections approach, we’re excited to partner with Crypto.com and OG.com—Robinhood’s prediction markets are set for an exciting fall.”
“This is the beginning of a strategic partnership between the two companies,” said Kris Marszalek, Founder and CEO of Crypto.com and OG.com. “We look forward to making OG.com the world’s most liquid platform for innovative derivatives trading, starting with prediction markets and rapidly expanding into futures and perpetual contracts.”
Although event contracts on Robinhood will continue to be routed to Kalshi, ForecastEX, and Rothera, this partnership with Crypto.com and OG.com comes at the perfect time to help us strengthen our center for football prediction markets.
The new season of college and professional football
In addition to routing a portion of contracts to OG.com, the trading experience for professional and college football has also been revamped. The new experience offers improved real-time data and features a dedicated trading center, allowing clients to easily filter contracts by week, team, league, and more. Player statistics and team ranking data will be available later this fall.
This season, customers will also be able to trade a broader range of contract types, including game outcome contracts, player contracts, and custom combination contracts. College and professional football contracts will be routed to various combinations of OG.com, Kalshi, and Rothera based on factors such as exchange availability.
Center of the U.S. midterm elections
In addition to our partnerships with Crypto.com and OG.com, ahead of the 2026 midterm elections, we will launch our most comprehensive election product to date, featuring a dedicated election hub that enables customers to quickly and intuitively access state and federal markets that impact them. As part of this effort, we will also introduce an entirely new interactive heatmap directly within the hub, allowing customers to clearly see each candidate’s standing at every level of government—this feature will launch in late fall this year. After voting concludes, we will bring nearly real-time vote data directly into the product experience, displaying the number of votes counted and the percentage of the projected total votes.
Those closely following 2024 may have noticed that the "wisdom of the crowd" confidently predicted the outcome of the 2024 presidential election before official results were announced at polling stations worldwide. We believe that real-time monitoring of these midterm election prediction markets will serve as another powerful tool for investors to gain early and continuous insights before and on election night.
Midterm election contracts are currently routed to Kalshi and Rothera, and may expand to Crypto.com and OG.com in the coming weeks.
Impact of prediction markets
Since launching approximately two years ago, customers have traded over 45 billion contracts on Robinhood, with more than 30 billion traded this year alone through the end of August. As Robinhood CEO Vlad Tenev stated earlier this year: “Prediction markets have become our fastest-growing business in history… I believe we’re just at the beginning of a supercycle for prediction markets…”
Disclosure
Futures, futures options, and cleared swaps transactions are offered by Robinhood Derivatives, LLC (“Robinhood Derivatives”), a futures commission merchant registered with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). Robinhood Derivatives is a wholly owned subsidiary of Robinhood Markets, Inc. (“Robinhood Markets,” and when including its consolidated subsidiaries, “we” or “Robinhood”).
Disclaimer regarding forward-looking statements
This blog post contains forward-looking statements, including our partnership with Crypto.com and OG.com, the equity we may receive as a result, its implied valuation, our expectations for growth in the prediction market business, and our plans to expand event contract routing and launch new product features. Forward-looking statements are subject to numerous known and unknown risks, uncertainties, assumptions, and other factors that may cause our actual future performance to differ materially from any future performance expressed or implied by such forward-looking statements. Because some of these risks and uncertainties cannot be predicted or quantified and are beyond our control, you should not rely on our forward-looking statements as predictions of future events. For additional information regarding potential risks and uncertainties that may affect our business and financial results, please refer to Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and other filings we have submitted with www.sec.gov. Except as required by law, we undertake no obligation to update any statements in this blog post.