Brokerage firm Robinhood has launched a betting markets hub in partnership with Kalshi, expanding its presence beyond traditional stock trading. Following the announcement, Robinhood’s stock (HOOD) saw an approximate 8% rise on the Nasdaq. The new platform will allow users to trade contracts predicting the upper limit of the target fed funds rate for May and outcomes of upcoming college basketball tournaments. Kalshi, the U.S.'s first CFTC-regulated prediction platform, will facilitate this event contract platform and already manages numerous contracts on various outcomes like election results. The rising popularity of prediction markets has been notable in the U.S. since a legal victory for Kalshi in 2024. Notably, Robinhood has also broadened its offerings in cryptocurrencies and derivatives, seeking to tap into emerging asset classes.

Source 🔗