Robinhood Invests in Crypto.com, OG.com for Prediction Market Expansion

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Robinhood is expanding its prediction markets business by acquiring equity stakes in Crypto.com and OG.com. OG.com will provide infrastructure and clearing services for Robinhood's prediction markets, aiming to bolster this growing business segment.

Key facts

• Robinhood has acquired equity stakes in Crypto.com and OG.com.
• OG.com will serve as the infrastructure and clearing engine for Robinhood's prediction markets.
• The valuation of the equity stakes will be based on Crypto.com's recent valuation.
• These partnerships are intended to bolster Robinhood's fastest-growing business segment.
• OG.com's CFTC-regulated infrastructure will be utilized for the integration.