Robinhood Expands Crypto Betting Strategy with New Stakes

Robinhood is growing its prediction market footprint by routing football event contracts to Crypto.com and its standalone trading app, OG.com. As part of this deal, Robinhood will secure equity stakes in both entities. The valuation for this investment aligns with the recent 20 billion dollar price tag established by Citadel Securities.

This move matters because event contracts have become a massive growth driver for Robinhood. The brokerage reported 156 million dollars in revenue from these contracts in the second quarter alone, officially outperforming its crypto business during that same period. Since launching two years ago, customers have traded over 45 billion contracts.

By adding these venues, Robinhood reduces its reliance on a single exchange. The brokerage already routes flow to Kalshi, ForecastEX, and Rothera. Splitting order flow allows the platform to offer a wider variety of college and professional football contracts to its users.

Looking ahead, traders should watch for potential expansions into other sectors. Robinhood is currently developing a midterms election hub, and it is possible that these new exchange partners will eventually handle political contract routing as well.