Robinhood (HOOD) Stock Jumps 3% as Crypto.com Deal Expands Prediction Markets
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8 Articles
Robinhood Stock Rises 1.1% on Crypto.com Deal—Why $156 Million Matters
Robinhood stock was up 1.07% at $118.60 in premarket trading Wednesday after the brokerage added Crypto.com’s OG.com as a prediction-markets venue and took equity stakes in both companies. The move is strategically important because event contracts have already become a material Robinhood business. It is not yet possible to value the stakes because Robinhood disclosed…
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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