Robinhood strikes prediction markets deal with Crypto.com

Robinhood strikes prediction markets deal with Crypto.com

Tue, September 8, 2026 at 3:47 PM GMT+3 2 min read

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Robinhood Markets struck a deal to carry Crypto.com's yes-or-no contracts on its app while also acquiring minority positions in both the digital-currency exchange and its prediction-markets unit, OG.com. Terms of the agreements, including the size of Robinhood's investments, were not disclosed.

Under the arrangement, which spans multiple years, event contracts from Crypto.com's OG.com operation will be made available on Robinhood's app, according to the Wall Street Journal. Crypto.com also said it had spun OG out into a stand-alone company. Citadel Securities bought a stake in both Crypto.com and OG in July, valuing them at $15 billion and $5 billion, respectively.

Crypto.com Chief Executive Kris Marszalek said the partnership is intended to draw more traders and institutions onto the prediction markets platform. "We think this is the beginning of a very strategic relationship, and the prediction-market event contracts are just the first product we're going to be launching together," Marszalek told the outlet. The two companies have also discussed equity-linked perpetual futures, pending regulatory approval, he said.

JB Mackenzie, Robinhood's vice president and general manager of futures and prediction markets, said the arrangement would enable the brokerage to provide more competitive pricing and a broader range of contracts. He said the timing is significant as football season begins and midterm elections approach. "It's something [our customers] want to trade," Mackenzie said.

The deal represents the newest chapter in Robinhood's push into event-based contracts. The brokerage entered the space via Kalshi, the leading U.S. platform, and has since broadened its roster of partners. Rothera, a derivatives exchange Robinhood launched with Susquehanna International Group, also focuses on event contracts.

Prediction markets have been a growing contributor to Robinhood's business. Event contracts revenue climbed more than 10x from a year earlier to $156 million in the second quarter, with the number of contracts traded rising more than 10x to a record 13.6 billion. Overall, Robinhood reported record total net revenues of $1.31 billion for the quarter, up 32% year-over-year.

The broader prediction markets sector has drawn significant competition. Trading volume across Kalshi and Polymarket hit a combined $50 billion last year and has surpassed $130 billion in 2026 alone. Meta CEO Mark Zuckerberg has directed a team to build a competing prediction markets app, and established sports betting operators FanDuel and DraftKings have also entered the space.

Crypto.com is working toward an initial public offering, though Marszalek said no decision on timing has been made. The company also plans to pursue acquisitions to fuel growth.