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Robinhood to Route Football Contracts via OG.com, Takes Equity Stakes in Prediction Market Push
Robinhood Markets (NASDAQ: HOOD) announced on Tuesday it will begin routing some of its football event contracts through OG.com's federally regulated exchange. The move is part of a broader strategic expansion into prediction markets that includes taking equity stakes in both OG.com and its former parent company, Crypto.com.
Strategic Partnership and Investment
Starting Tuesday, Robinhood will add OG.com as a trading venue for selected football contracts, diversifying its execution partners ahead of the U.S. professional football season. OG.com operates as an independent platform with a derivatives exchange and clearinghouse regulated by the U.S. Commodity Futures Trading Commission (CFTC).
As part of the deal, Robinhood will acquire equity stakes in both platforms. The company stated the investment will be priced in line with Citadel Securities' recent investment in Crypto.com, which carried a $20 billion valuation and included $5 billion for the recently spun-off OG.com.
AdCapitalizing on Event Contract Growth
The push deeper into prediction markets follows a period of significant growth for this product category at Robinhood. The company reported that event contracts generated a record $156 million in revenue during the second quarter, making them a key growth driver.
Beyond sports, Robinhood is also expanding its offerings related to political events. The firm is launching a dedicated hub for state and federal election contracts ahead of the November midterms and noted that some of these contracts could also be routed through Crypto.com and OG.com in the future.
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