Robinhood announced Tuesday it will take equity stakes in Crypto.com and OG.com, the prediction-market platform Crypto.com is spinning off, at valuations of $20 billion and $5 billion respectively. The broker will route a selection of college and pro football contracts to OG.com’s CFTC-regulated exchange, formerly known as Nadex. Robinhood customers have traded more than 45 billion event contracts since the product launched roughly two years ago, including over 30 billion this year through end of August, generating $156 million in revenue in the second quarter alone. Crypto.com’s CRO token rose 4% to $0.0604, giving it a market capitalization of $2.93 billion.
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