Robinhood has launched a betting markets hub, partnering with Kalshi to create an event contract platform. This announcement, made on March 17, resulted in an 8% rise in Robinhood's stock on the Nasdaq. The new feature allows users to trade contracts predicting variables such as the fed funds rate and outcomes of college basketball tournaments. Kalshi, the U.S.'s first CFTC-regulated prediction platform, will operate this betting hub, which can list contracts on varied topics, including election results and movie ratings. Political betting markets have gained popularity, especially after Kalshi successfully challenged the CFTC to allow such contracts. In addition to event contracts, Robinhood has been diversifying its offerings in cryptocurrencies, having seen significant growth in trading volumes in the past year. The platform aims to provide various services to capture emerging asset classes and enhance user engagement.

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