Robinhood Strikes Deal with Crypto.com to Expand Prediction Markets
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6 Articles
Robinhood Takes Stakes in Crypto.com and OG to Expand Prediction Markets
Robinhood is adding Crypto.com’s prediction-market contracts to its app and taking minority stakes in both Crypto.com and OG, the exchange’s prediction-markets business. The companies agreed to a multiyear deal, according to The Wall Street Journal. Financial terms, including the size of Robinhood’s investments, were not disclosed. Crypto.com has also spun OG out into a standalone company. For Robinhood, the deal adds another source of event con…
Robinhood (HOOD) Stock Jumps 3% as Crypto.com Deal Expands Prediction Markets
TLDR Robinhood has agreed to add Crypto.com’s yes-or-no event contracts to its trading platform Robinhood will take minority stakes in both Crypto.com and its prediction-markets unit, OG Crypto.com and OG were valued at $15 billion and $5 billion respectively after Citadel Securities bought in...
Robinhood further strengthens its strategy in the field of prediction market thanks to a new agreement with Crypto.com. The company will integrate on its platform the contracts on the events of OG.com and, in parallel, will acquire minority participations both in the Crypto.com exchange and in the business dedicated to the forecast markets. The understanding represents a new step in the growing competition [...]
Robinhood negotiates with Crypto.com to incorporate its event contracts and, according to the report, could take a stake in the crypto platform. The movement arrives as Robinhood’s predictive markets register accelerated growth and attract more suppliers, in a competition that already confronts Kalshi, ForecastEx and Rothera. *** Robinhood evaluates integrating Crypto.com’s event contracts into its predictive market platform. The platform exceed…
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