Robinhood Brings Prediction Market Hub to Market After Success of Crypto-Based Polymarket

Robinhood is launching a new prediction market through its platform, partnering with CFTC-regulated exchange Kalshi, enabling users to bet on the outcomes of various events. This move positions Robinhood as a competitor to Polymarket, which gained significant attention and scrutiny during the U.S. presidential election, attracting over $3.6 billion in bets. The prediction market hub aims to engage users in topics ranging from politics to sports, with initial contracts focusing on the Federal Reserve's interest rates and upcoming college basketball tournaments. Robinhood's shares rose by 2.3% following the announcement. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk