Robinhood Enters Equity Deal with OG.com, a Crypto Prediction-Market Platform
Robinhood Markets Inc. has entered into a multiyear agreement to take equity stakes in both Crypto.com and its prediction-markets platform spinoff, OG.com. The deal will integrate OG.com's regulated exchange infrastructure for event contracts on Robinhood’s predictions business, with the new offerings launching Sept. 8. This partnership aligns with Citadel Securities' recent $20 billion valuation of Crypto.com, including a standalone $5 billion valuation for OG.com. Robinhood aims to expand its presence in prediction markets by leveraging OG.com's regulated derivatives platform across sports, financial events, and culture. The collaboration is expected to strengthen Robinhood’s position as it competes with other platforms entering the booming retail trading space. Shares of Robinhood rose 0.8% following the announcement.
Tickers: $HOOD
Topics: Crypto.com Equity Deal OG.com Prediction Markets Robinhood