After the success of the Polymarket Platform Commerce -based platform, Robinhood (Hood) is now opening a prediction market on its platform, available through Exchange Kalshi regulated by CFTC, said the company, with contracts that are implemented today.
The company’s prediction market center will allow customers to bet on the results of the event, the Hood announced in a press release.
It is another Polymarket competitor, the world’s largest prediction market, which exploded in popularity last year in the middle of the presidential elections of the United States and any amount of other high and low profile news events. The increase in popularity triggered intense scrutiny on the platform, which according to an NBC News analysis attracted more than $ 3.6 billion in bets only for presidential elections.
Some questioned the identities behind the bets and if the results on the platform may even have influenced the result of the elections in a certain direction. The FBI, which confiscated his phone and other electronic devices.
Robinhood said he has been talking to the Commerce Commission of Futures of Basic Products of the United States (CFTC) in recent weeks.
“We believe in the power of prediction markets and believe they play an important role at the intersection of news, economy, politics, sports and culture,” said JB Mackenzie, VP & Gm of futures and international in Robinhood.
To start launching the product, merchants can bet on the upper potential limit of the Fed Target fund rate in May, as well as the next male and female university basketball tournaments, Robinhood said.
Negotiation application shares increased 2.3% on Monday, to $ 40.17.
