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OG.com, Robinhood, and Crypto.com logos together on a co-branded partnership graphic
Photo: PR Newswire

Robinhood Takes Stakes in Crypto.com, OG.com in $20B Prediction Deal

PR Newswire2 min read6 sources

Why did Robinhood take a stake in Crypto.com and OG.com?

Robinhood (HOOD) stock fell 3.9% on Tuesday after the company said it will take equity stakes in Crypto.com and OG.com and route prediction-market contracts through OG.com's CFTC-regulated exchange.

Key numbers

Crypto.com valuation$20B
OG.com valuation$5B
Q2 event-contract revenue$156M+10x YoY
HOOD stock reaction (Tue close)-3.91%1.6x avg volume (per 4)
Robinhood Q2 equities revenue$129M
HOOD market cap$103.65B

What happened

Robinhood (HOOD) stock fell 3.9% on Tuesday after the company said it will take equity stakes in Crypto.com and OG.com and route prediction-market contracts through OG.com's CFTC-regulated exchange. The stakes are priced off Citadel Securities' July investment, which valued Crypto.com at $20 billion and its new prediction-markets spinoff OG.com at $5 billion. Starting September 8, Robinhood began routing some football event contracts to OG.com's exchange and clearinghouse, adding a new venue alongside existing partner Kalshi. Robinhood's event-contract revenue hit a record $156 million in the second quarter, more than ten times what it made a year earlier.

Why it matters

Robinhood is leaning harder into prediction markets — contracts that let people bet yes or no on things like sports or elections — because they are growing faster than its stock-trading or crypto businesses. Taking ownership stakes in Crypto.com and OG.com, rather than just using their technology, ties Robinhood's fortunes to how well these newer, less-regulated betting-style products perform. The deal also gives Robinhood a second CFTC-regulated pipeline for these contracts, alongside Kalshi, as regulators and courts still weigh whether such contracts are legal in states like Nevada and New Jersey.

Who this affects

Marketmixed
Medium impact
HOOD shares swung, closing down nearly 4% on the news.
Companybullish
Medium impact
Robinhood gains a new revenue stream and a stake in OG.com.
Competitorsmixed
Medium impact
Kalshi now shares Robinhood's volume with new rival OG.com.
Industrybullish
Medium impact
Prediction markets gain another regulated exchange and distribution channel.

Robinhood vs Coinbase, DraftKings

RobinhoodHOOD$103.65B-1.76%48.0x
CoinbaseCOIN$46.10B-2.36%149.2x
DraftKingsDKNG$11.75B-0.88%43.6x

As of 2026-09-09

How we got here

  1. Robinhood launched its prediction markets hub with CFTC-regulated Kalshi.

  2. Citadel Securities invested in Crypto.com at a $20B valuation.

  3. Robinhood announced equity stakes and OG.com rollout began for eligible users.

  4. HOOD shares closed at $115.28, extending declines a day later.

What to watch

  • Robinhood may route 2026 midterm election contracts to Crypto.com and OG.com.2026-11-03
  • OG.com plans to expand beyond prediction markets into futures and perpetuals.Q4 2026
  • New Jersey's Supreme Court petition over prediction-market legality remains pending.Q4 2026

Educational content only. Not investment advice.

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