Robinhood Gets Into the Betting Business, Launches Prediction Market
While the hub will live in the Robinhood app, the “contracts” are being made available by Kalshi, which is technically a federally regulated exchange under the Commodity Futures Trading Commission—but has also drawn ire from that very same agency for allowing people to bet on the outcome of elections.
Robinhood Launches Prediction-Markets Hub
Robinhood is launching a prediction-markets hub that will allow users to bet on basketball tournaments and coming interest-rate moves from the Federal Reserve. The brokerage is partnering with prediction-market startup Kalshi to offer the event contracts through Robinhood’s app.
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