Robinhood Taps OG.com to Clear Prediction Market Trades

The Deal Robinhood Signed

Robinhood said on September 8 that it has picked OG.com as an infrastructure and clearing provider for its prediction markets platform, in a multi-year arrangement that also gives Robinhood equity in the exchange it is routing to. The phased rollout to eligible U.S. customers started the same day.

• OG.com becomes an infrastructure and clearing provider, with Robinhood routing retail event contract volume to its CFTC-regulated exchange and clearinghouse
• Robinhood takes minority equity stakes in both Crypto.com and OG.com, with the sizes undisclosed
• Stakes are priced in line with Citadel Securities' recent investment, which valued Crypto.com at $20 billion including a standalone $5 billion for OG.com
• Robinhood Derivatives remains a CFTC-registered futures commission merchant and NFA member; OG.com operates as an independent CFTC-regulated entity

JB Mackenzie, who runs futures and prediction markets at Robinhood, put the strategic logic plainly: "Routing event contracts to multiple venues helps create a stronger, more diverse and resilient marketplace."

Why a Broker Would Buy Into Its Own Venue

Here is the part that makes this more than a plumbing announcement. Robinhood is not just sending order flow to OG.com — it is taking a stake in the entity clearing that flow. That is a broker moving one layer down the stack, from distribution into market infrastructure.

The financial case is easy to see in the numbers. The Block reports Robinhood traded 13.6 billion event contracts in the second quarter of 2026, generating roughly $156 million in revenue, up about 50% from the prior quarter — the first period in which prediction markets out-earned the firm's crypto business. When a product line grows like that, owning a piece of the venue it settles on stops being exotic and starts being obvious.

The diversification point matters too. Event contracts continue routing to Robinhood's existing partners Kalshi, ForecastEX and Rothera, according to The Block. Adding a fourth venue with an equity relationship gives the broker redundancy on a business line that has become material to its revenue, which is the sort of thing risk committees like more than they like exclusivity.

What Do Retail Traders Actually Get?

Practically: more contracts and faster clearing. OG.com brings instant clearing, institutional-grade liquidity, and an event catalogue that spans macroeconomic and sports markets. The first tranche going live on Robinhood's app is football contracts, with the rollout phased across eligible U.S. customers rather than flipped on at once.

Two things are worth keeping in view. Event contracts are derivatives, they carry the risks derivatives carry, and the CFTC-regulated wrapper defines the rules rather than removing the risk. And the equity stakes are minority positions of undisclosed size at a valuation set by someone else's round — meaningful as a signal of intent, not yet as a balance sheet item anyone can measure.

Still, the direction is clear enough. Retail market structure keeps absorbing things that used to sit outside it — see the SEC's roundtable agenda on 24-hour stock trading and Nasdaq's move into AI due diligence with Dasseti. More market plumbing in our stock trading coverage.

Sources: Robinhood press release via PR Newswire — September 8, 2026; The Block — September 8, 2026.