Robinhood Rolls Out Contracts Bet on US Election
Robinhood made an announcement on Monday that it is now offering users the opportunity to trade contracts speculating on the outcome of the upcoming US presidential election.
This move puts Robinhood in competition with other prediction markets in the industry.
The new feature allows users to potentially earn profits by correctly predicting the election results.
This is part of Robinhood’s efforts to expand into alternative trading products. Initially, only a limited number of users will have access to election contracts.
In order to be eligible, users must be US citizens with an active Robinhood individual investing account. They must also meet certain criteria, such as being approved for margin investing or Level 2/3 options trading.
Through Robinhood’s election contracts, users can make speculations on the outcome of the 2024 US presidential race.
