PANews reported on October 28 that according to CNBC, Robinhood announced that its users can now trade prediction contracts for the 2024 US presidential election, supporting bets on the outcome of Kamala Harris and Donald Trump. The transaction is jointly provided by Robinhood's derivatives department and ForecastEx, and is limited to US citizens who meet certain conditions.
Robinhood's move enters the increasingly crowded political prediction market. Previously, the Kalshi platform won a key ruling against the CFTC, allowing it to continue to provide election result contract trading. In addition, competitors such as Interactive Brokers have recently launched similar political contracts. Robinhood said that such event contracts provide users with a real-time decision-making tool and open up a new asset class.
