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Inside Robinhood’s Prediction Market Deal With Crypto.com, OG

Inside Robinhood’s Prediction Market Deal With Crypto.com, OG

Robinhood name-dropped its prediction market exchange 18 times during a July 29 second-quarter earnings presentation and 10 times in a subsequent call with analysts. Robinhood co-owns the entity, named Rothera, alongside Susquehanna International Group and Miami International Holdings through a purchase that closed earlier this year.

Rothera earned Robinhood’s praise by rapidly onboarding volume during the World Cup with few public hiccups just months after relaunching post-acquisition. For a time, Rothera eclipsed Crypto.com’s exchange subsidiary, then known as Nadex/CDNA, for third place in betting volume among all U.S. prediction market exchanges during the World Cup’s knockout rounds.

Not even two months later,…

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