Robinhood has introduced an innovative feature within its app called the ‘Predictions Hub’, designed to allow users to wager on various global events.
Upon its debut, this hub will facilitate trading in contracts that predict the upper limit of the target federal funds rate for May, in addition to bets related to the upcoming men’s and women’s College Basketball Tournaments.
JB Mackenzie, Vice President and General Manager of futures and international at Robinhood, stated, “We believe in the potential of prediction markets and recognize their significant role at the intersection of news, economics, politics, sports, and culture. We’re thrilled to provide our customers with a new avenue for engaging in prediction markets while ensuring adherence to regulatory standards.”
The prediction markets hub and its related contracts will be initially accessible throughout the United States via KalshiEX LLC, a regulated exchange under the Commodity Futures Trading Commission (CFTC).
Mackenzie further explained, “Establishing a dedicated prediction markets hub enables us to better meet the needs of our customers, allowing them to interact with events that resonate with their interests. These contracts will begin to roll out today, with availability extending to all eligible customers in the days ahead.”