Robinhood Takes Stakes in Crypto.com, OG.com — SkimNews
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- Robinhood announced a multi-year deal making OG.com — Crypto.com's prediction markets platform, spun off as a separately capitalized company — an infrastructure and clearing provider for its Prediction Markets platform, with phased U.S. rollout beginning September 8.
- Robinhood is taking minority equity stakes in both Crypto.com and OG.com at valuations aligned with Citadel Securities' July investment, pricing Crypto.com at $20 billion and OG.com at $5 billion in its standalone spin-off.
- OG.com runs a CFTC-regulated exchange and called the deal its largest B2B partnership by trading volume; both companies flagged equity-linked perpetual futures as the next step pending regulatory clearance.
- Robinhood's event-contract revenue surged more than 10-fold year-over-year to $156 million in Q2, making prediction markets its fastest-growing line while crypto trading revenue fell 38%.
- Robinhood had been routing prediction-market volume through Kalshi contracts and its own Rothera exchange (a CFTC-licensed joint venture with Susquehanna International Group); adding OG.com gives it a third infrastructure supplier.
- HOOD shares climbed roughly 3.4% in premarket trading to around $126, while CRO jumped about 6% toward a weekly high near $0.063 — a rebound from a three-year low hit a month earlier after Trump Media Group canceled separate deals with Crypto.com.
Why it matters: Robinhood now spreads prediction-market volume across three infrastructure suppliers instead of depending on one, just as event-contract revenue ($156M in Q2, up 10x YoY) overtakes its declining crypto trading business (down 38%). OG.com, valued at $5B as a standalone spin-off, lands its largest B2B deal and gains credibility as regulated derivatives infrastructure ahead of its next product, equity-linked perpetual futures.
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