Robinhood (Hood) Partnerships with Malashi, a commodity futures trade commission (CFTC)-Gregulated and blockchain-based predictions market, to let users trade with NFL outcomes and college football games.
Betting market can be used through the Robinhood Hub hub, available throughout the US by MAMILI, the popular trading platform said in a blog post On Wednesday.
“Customers can now trade in the outcomes of the most popular Pro and College’s and college football games, including all regular pro matchup periods, and all college schools 4 and independent,” said the post.
Robinhood positions the transition as an alternative to traditional betting platforms. Instead of going through sportsbooks, these trading are executed with the federal regulated replacement of Coldi and treated like goods, not wagers.
“Unlike sports betting, where the firm sets a line, event contracts use the power and strict financial market structure and are offered in a market where buyers and sellers are in contact to set the price,” the blog post said.
In this move Robinhood may come after some of the traditional betting platforms, such as DRAFTKINGS (Dkng) and Fanduel Parent Flutter Entertainment (Flood).
Regulated sports betting
Launching marks the latest Robinhood transfer to the prediction markets after a previous sign of interest in space.
In March, the The company rolls A broader “prophecy of hub markets” available through CFTC-regulated Exchange Midold, following the popularity of crypto-native platforms such as polymarkets, where users will bet on outcomes from elections to inflation rates using the USDC.
While the Polymarket operates in a regulation of gray zone in the US, it said it is preparing An officer to return to the US By obtaining the QCX, a regulated derivatives exchange, following a federal investigation into the operations of the fell polymarket.
However, Robinhood has stabbed regulatory concerns through cooperation with the Malashi, which is an exchange licensed by the Commodity Futures Trading Commission. It allows Robinhood to take on sports, politics and macroeconomic event trading without constitting gambling laws.
The news today is probably a step in a wider approach as Robinhood begins with sports betting, one of the most popular betting avenues. “We are currently offering contracts throughout crypto, economy, financial, sports, culture, and more, along with others added regularly,” the post said.
“Ultimately, our goal is to enable anyone, anywhere, to trade, invest or hold any financial possession and conduct any financial transaction through Robinhood.”
Read more: Betting the US election: Polymarket’s ‘manipulation’
