Robinhood has rolled out an in-app 'Predictions Hub', enabling customers to bet on the outcomes of world events.
At launch, the hub will allow customers to trade contracts for what the upper bound of the target fed funds rate will be in May, as well as the upcoming men’s and women’s College Basketball Tournaments.
“We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture,” says JB Mackenzie, VP & GM of futures and international at Robinhood. “We’re excited to offer our customers a new way to participate in prediction markets and look forward to doing so in compliance with existing regulations.”
The prediction markets hub-and corresponding contracts-will initially be available across the US through KalshiEX LLC, a CFTC regulated exchange.
Says Mackenzie: "Building a standalone prediction markets hub allows us to better serve our customers as they look to engage with events that align with their interests. These contracts will start rolling out today and will be available to all eligible customers in the coming days."