Robinhood routes football contracts to Crypto.com exchange and takes equity stakes in Crypto.com and OG.com
Robinhood routes football contracts to Crypto.com exchange
Robinhood Markets announced it will start sending a selection of college and professional football event contracts to the CFTC‑regulated exchange and clearinghouse operated by Crypto.com. The move begins on Tuesday for eligible U.S. customers.
Equity stakes in Crypto.com and OG.com
Robinhood will also acquire equity stakes in Crypto.com and in OG.com, the prediction‑market business that Crypto.com is spinning out as a separate company valued at $5 billion. This is the second venue where Robinhood holds a piece; the first is Rothera, a joint venture with Susquehanna International Group.
Key points
- Football contracts will be split across OG.com, Kalshi and Rothera based on each exchange’s listings.
- Robinhood is adding new contract types such as game outcomes, player contracts and custom combos.
- More than 45 billion event contracts have been traded since the product launched two years ago, with over 30 billion traded this year.
- Q2 revenue from prediction markets reached $156 million, more than ten times the prior year’s figure.
- The equity price will align with the $400 million Citadel Securities investment in Crypto.com at a $20 billion valuation, though stake size was not disclosed.
How the routing works
Robinhood’s routing table now includes four venues: Rothera, Kalshi, ForecastEX and the new OG.com exchange. OG.com runs its event markets through the North American Derivatives Exchange (Nadex), a CFTC‑registered designated contract market. In the Crypto.com app the venue appears as Crypto.com | Derivatives North America, while the trader‑facing app uses the OG.com brand.
Trading volume and revenue
Since launch, customers have traded more than 45 billion contracts, including over 5 billion during the World Cup. In the second quarter of 2026, 13.6 billion contracts were traded, generating $156 million in revenue.
Regulatory backdrop
A recent Ninth Circuit ruling said Kalshi’s sports contracts are not swaps, a decision that differs from the Third Circuit and could affect Nevada gaming enforcement. Robinhood’s expansion into football contracts occurs amid this unsettled regulatory environment.
Why it matters
By taking equity stakes, Robinhood gains a direct financial interest in the performance of the exchanges it routes to, potentially influencing market share among prediction‑market venues. The partnership also expands the range of football‑related contracts available to Robinhood users.
Next steps
Robinhood said further expansion to Crypto.com and OG.com could happen in the coming weeks. Player statistics and standings data will be added later this fall, and the election hub will receive interactive heat maps and near‑real‑time vote counts after the upcoming midterm elections.
