The popular Robinhood trade platform (Hood) plans to expand its product of prediction markets, which allows merchants to buy and sell contracts based on future results, beyond the US markets. UU. And in global markets, the company told Bloomberg.
Robinhood see international demand grow, especially in Europe and the United Kingdom. JB Mackenzie, vice president and general manager of futures and international in the company, said that users abroad have shown particular interest in this new form of trade.
“We are definitely looking to offer it worldwide, and my goal or focus is to make sure it is a product that regulates regulatory wherever we go,” Mackenzie told Bloomberg.
To that end, Robinhood has begun discussions with foreign regulators, including the United Kingdom’s financial behavior authority, to explore how a localized version of the product could be structured, he said.
The measure follows its recent association with Kalshi regulated by Blockchain and regulated by CFTC, which allows users to bet on the results of real world events, such as elections, communications of economic data or geopolitical developments.
Prediction market market
The impulse to the prediction markets is produced in the midst of an increase in interest based on events, caused partly by the emergence of the Polymarket of the crypto-national platform. That platform has prosecuted billions of dollars in bets in 2024, largely linked to the result of the presidential elections of the United States.
The platform became so popular that it was recently reported that Polymket shed a possible agreement that valued the company at $ 9 billion, a strong increase in its valuation of $ 1 billion only a few months ago.
While Polymarket jumped to fame, the market was somewhat restricted. Now, with Robinhood Us and potentially global offers, you could open the prediction market for a larger merchants.
COINDESK has contacted Robinhood for comments.
