Robinhood Partners with Crypto.com to Expand Prediction Markets

Robinhood has entered into a partnership with Crypto.com to broaden its prediction market offerings, according to a press release issued on Tuesday, September 8th. The agreement enables Robinhood to forward select football-related event contracts to Crypto.com's prediction markets platform through its regulated exchange and clearinghouse. This route is accessible via the Crypto.com app, known as Crypto.com | Derivatives North America, as well as the OG.com trader-focused app.

JB Mackenzie, Robinhood's vice president and general manager of futures and prediction markets, stated that routing these contracts to multiple platforms strengthens the marketplace. With football returning and midterm elections approaching, the collaboration with Crypto.com and OG.com is anticipated to bring a lively fall season for prediction markets on Robinhood.

The prediction business at Robinhood has experienced record revenues and volume in the current year, with 13.6 billion event contracts traded during the second quarter, including over 5 billion during the World Cup. In June, the company also began directing contracts to Rothera, a CFTC-licensed exchange and clearinghouse, managed jointly by Robinhood and Susquehanna International Group, further diversifying its marketplace.

This development follows a July report indicating that Robinhood was in talks with Crypto.com to expand its footprint in the prediction markets. Previously, Robinhood had collaborated with firms like Kalshi to offer betting contracts on its prediction platform, although they are now viewed as competitors rather than partners. Crypto.com and PYMNTS have an exclusive two-year partnership to launch AI Predictions Market Contracts on OG.

These contracts will be the "first to deploy independently measured AI adoption across consumers, enterprises, and public companies," turning trusted measurements into market intelligence and tradable contracts, providing a new way to understand AI's economic impact.