Trading Giant Robinhood Launches New Prediction Markets Hub Using Kalshi
Robinhood buying and selling app is introducing a brand new prediction markets hub, increasing its monetary providers portfolio.
Developed in partnership with regulated alternate Kalshi Inc. – additionally a prediction market service – the brand new platform enables users to commerce contracts based mostly on real-world outcomes throughout sports activities, politics, and financial indicators.
Says J.B. Mackenzie, Robinhood’s Vice President and Basic Supervisor of Futures and Worldwide, of the brand new Polymarket-competing characteristic,
“We consider within the energy of prediction markets and suppose they play an vital position on the intersection of reports, economics, politics, sports activities, and tradition.
We’re excited to supply our prospects a brand new option to take part in prediction markets whereas making certain compliance with present laws.”
The preliminary contract choices deal with the Federal Reserve’s Might goal rate of interest and NCAA basketball match outcomes.
Robinhood has been in “shut contact” with the Commodity Futures Buying and selling Fee (CFTC) in regard to the brand new platform, and says it would proceed to work with the regulator sooner or later to “promote innovation within the futures, derivatives and crypto markets.”
Investor response has been constructive up to now, with the corporate’s replenish 6% on the day up to now
The announcement comes a month after the U.S. Securities and Trade Fee (SEC) dropped its investigation into the buying and selling app big.
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