Robinhood expands prediction markets through partnerships with Crypto.com and OG, acquiring equity stakes ahead of NFL season.
DeFi & Yields ·
Robinhood is expanding into prediction markets through partnerships with Crypto.com and OG, with plans to acquire equity stakes in both platforms. The equity stakes will be valued using Crypto.com's recent $20 billion valuation as a benchmark.
The partnerships position the three entities to capitalize on prediction market activity, with the timing aligned to the upcoming NFL season. The arrangement involves Robinhood taking ownership positions in both partner firms, linking its financial interest directly to their performance and growth.
Details about the specific terms of the equity acquisitions, the exact sizes of the stakes, and the operational structure of how prediction market features will function across the platforms remain unclear. The extent to which these partnerships may influence product offerings or user experience has not been disclosed.