Key highlights:
- Robinhood partnered with Crypto.com and spin-off OG.com, taking equity stakes in both and routing event contracts through OG.com’s CFTC-regulated exchange
- Prediction markets hit $156M in Q2 revenue, surpassing Robinhood’s $100M crypto revenue and 30B+ contracts traded in 2026’s first 8 months, with Bernstein projecting $586M full-year
- Kalshi led August volume at $37.17B vs. Polymarket’s $8.16B as both platforms expand ahead of the 2026 midterms
Robinhood is expanding its prediction-market business through a multi-year partnership with Crypto.com and its newly independent prediction-market platform, OG.com.
The deal will give Robinhood another regulated venue for offering event contracts while allowing the brokerage to take equity stakes in both companies.
A big next chapter for @OG_com.@OG_com is now a standalone business at a $5B valuation, giving it dedicated capital and an independent operating model to accelerate its growth.
As part of that next chapter, @RobinhoodApp has selected @OG_com as an infrastructure and clearing… pic.twitter.com/HbYDd7DRGi
— Crypto.com (@cryptocom) September 8, 2026
The partnership comes as prediction markets become an increasingly important part of Robinhood’s business and competition intensifies among platforms offering contracts tied to sports, elections, and financial events.
The agreement also expands Robinhood’s network of prediction-market infrastructure providers beyond Kalshi and Rothera, giving the company additional capacity as it prepares for the U.S. football season and the 2026 midterm elections.
How Robinhood is building a bigger prediction-market machine
Under the partnership, Robinhood will route selected retail event contracts through OG.com’s Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange and clearinghouse.
The first contracts, focused on football, are scheduled to roll out to eligible U.S. customers on September 8.
Notably, Robinhood will also receive equity stakes in both Crypto.com and OG.com.
The investments will be priced using valuations established by Citadel Securities’ recent investment in the Crypto.com Group, which valued Crypto.com at $20 billion and OG.com at $5 billion following its spin-off.
However, the companies did not disclose the size of Robinhood’s stakes.
The deal marks another step in Robinhood’s efforts to expand its prediction-market operations. The brokerage entered the sector in 2024 and launched a dedicated prediction-markets hub in March 2025, initially relying on Kalshi for market infrastructure.
It has since added ForecastEx and Rothera, its joint venture with Susquehanna International Group.
Robinhood now has multiple venues through which to route event contracts, depending on availability.
Also, the company is expanding its football markets to cover game outcomes, player performance, and custom combinations, while also preparing an election hub for the 2026 U.S. midterms.
The election platform is expected to feature state and federal markets, interactive maps, and near-real-time voting information after polls close.
Robinhood made $156 million from prediction markets as trading surges
The numbers show why Robinhood is putting more resources behind the business.
Customers have traded more than 45 billion event contracts on the platform since the offering began, including more than 30 billion during the first eight months of 2026.
In the second quarter alone, Robinhood recorded 13.6 billion event contracts.
Revenue has grown alongside the activity, with prediction markets generating $156 million in revenue during the second quarter of 2026, up from $104 million in the first quarter and more than 10 times the year-earlier level.
The figure also surpassed Robinhood’s $100 million in cryptocurrency trading revenue for the quarter, which fell 38% year over year.
Robinhood reported total second-quarter revenue of $1.31 billion, up 32% from a year earlier, while diluted earnings per share reached $0.62.
Bernstein analysts had previously projected that prediction markets could generate $586 million in revenue for Robinhood during 2026.
After the first two quarters, the business had already generated $260 million.
Kalshi vs. Polymarket: Robinhood enters the prediction market race
The prediction-market race is entering a new phase as Kalshi and Polymarket compete for market share while Robinhood adds another layer of infrastructure and competition.
Combined trading volume on the two platforms fell 14.5% in August to $45.33 billion from $50.59 billion in July, although activity remained 76.7% above May levels.
Kalshi accounted for $37.17 billion of August volume, compared with $8.16 billion for Polymarket.
Notably, both platforms are strengthening their positions. Kalshi recently secured an exclusive partnership with the U.S. Tennis Association for the U.S. Open, while Polymarket expanded its deal with Sportradar to strengthen its sports data and integrity capabilities.
The latest Robinhood move could intensify competition as prediction markets expand into sports, politics, and broader financial derivatives.
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