Robinhood Takes Equity Stakes in Crypto.com and OG.com

Robinhood will take equity stakes in Crypto.com and its prediction markets spinoff OG.com, and route retail event contracts through OG.com's federally regulated exchange, the two companies said on Sept. 8.

The deal gives the brokerage an ownership interest in the venue that will clear its customers' trades. Its event contracts, the yes-or-no prediction market wagers on real-world outcomes, produced a record $156 million in revenue in the second quarter of 2026 on 13.6 billion contracts traded.

Football Contracts Route Through OG.com First

OG.com-backed contracts reach eligible U.S. customers in phases starting Sept. 8, beginning with football markets ahead of the NFL season. OG.com calls it its largest business-to-business prediction markets deal by volume.

Those trades clear through North American Derivatives Exchange, a market and clearinghouse registered with the Commodity Futures Trading Commission (CFTC), the federal derivatives regulator.

Robinhood already sends volume to Rothera, the CFTC-licensed exchange it launched in June 2026 with Susquehanna International Group. Rothera has handled more than 3.5 billion contracts since, Robinhood told investors on July 29.

The stakes will be priced in line with Citadel Securities' recent investment, which valued Crypto.com Group at $20 billion and OG.com at $5 billion alone.

"We're looking forward to making OG.com the most liquid venue globally for innovative derivative instruments, starting with prediction markets and quickly expanding into futures and perpetuals."

That was Kris Marszalek, founder and chief executive of Crypto.com and OG.com.

JB Mackenzie, who runs futures and prediction markets at Robinhood, said the deal gives the company "even more skin in the game."

Operators Keep Buying the Regulated Plumbing

Sports and trading companies have spent 2026 acquiring exchange and clearing licenses rather than renting them. Fanatics agreed in July to buy a CFTC-registered exchange and clearinghouse, ending its reliance on Crypto.com's regulated infrastructure.

The legal footing is still unsettled. A Ninth Circuit panel ruled in August that states can enforce their gambling laws against sports event contracts, splitting with an appeals court that ruled the other way in April.

Neither company disclosed the size of Robinhood's stakes or how long the phased rollout will run.

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