Robinhood launched a betting center where the online mediation – known as shares – expands its presence in the emerging assets classes, including cryptocurrencies and events contracts, according to the March 17 announcement.
Robinhood shares, Hood, rose by about 8 % on the Nasdaq Stock Exchange after the announcement, according to data from Google Finance.
The new betting feature for users will allow “commercial contracts for what will be the highest level of the target federal reserve funds in May, in addition to the upcoming men’s and women’s basketball tournaments” He said.
Hood’s performance inside the Nasdaq Stock Exchange on March 17. Source: Google Financing
She said online mediation is clicking on Kalshi, the first prediction of CFTC in the United States, to run the event contract platform.
KALSHI is already registered to include dozens of events contracts, covering the results ranging from election results to corrupt tomato films.
JP McKenzi, Vice President and Director General of the Future and International Contracts, said in a statement that the prediction markets “play an important role in the intersection of news, economics, politics, sports and culture.”
Experts say that political betting markets often acquire public feelings More accurate than opinion polls. Platforms such as Kalshi and Polymarket accurately predicted that US President Donald Trump won the November elections even when opinion polls indicated Erm.
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Popularity
The prediction markets have become increasingly popular in the United States since September 2024, when Calchi prevailed in a lawsuit challenging CFTC’s decision to prevent him from including the contracts of political events.
By November, trading volumes are approaching the common prediction markets of $ 4 billion for Contracts associated with the American elections.
Robinhood The water of political events was tested In October, when I started allowing some users to bet on the results of the presidential elections between former Vice President Kamala Harris and Trump.
In February, Robinhood Hanging Super Bowl After receiving a request from CFTC to its customers’ access to the event contracts.
Behind stock trading
Robinhood has expanded its scope in the emerging assets chapters, including cryptocurrencies and derivatives.
On March 13, The company listed in the list Like Pengu (PenGu), Pnut (PNUT) and PopCat (PopCatIn an attempt to expand its presence in encryption. Again in January, it is Futures contracts have been launched Associated with cryptocurrencies such as bitcoin (BTC).
The latest profit report from Robihood shows that the company has published 700 % on an annual basis Jumping in encryption revenues In the fourth quarter of 2024 Trump’s election victory and Market prices rise Supported to enhance encryption trading.
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