Robinhood Introduces Prediction Market in Its App
Date: 2025-03-18 Author: Gabriel Deangelo Categories: BUSINESS
Online broker Robinhood has announced the launch of a prediction market, which will allow users to make predictions on various significant events. As noted by the company's vice president J.B. MacKenzie, the platform will comply with current regulations.
Initially, users will be able to enter into contracts on the forecast for the upper limit of the Federal Reserve's target rate in May, as well as predict the results of the college basketball tournaments for men and women.
MacKenzie emphasized that the company views prediction markets as a useful tool that unites economics, politics, sports, and culture.
The platform will be available throughout the United States through the CFTC-regulated exchange KalshiEX LLC. Robinhood representatives said that in recent weeks they have actively interacted with the regulator and plan to continue collaborating to develop innovations in the field of futures, derivatives, and cryptocurrencies.
It is worth noting that on March 7, Robinhood agreed to pay a fine of $29.75 million to settle FINRA claims related to compliance and oversight violations.
The CFTC had previously initiated a request for customer data from Coinbase as part of an investigation into the Polymarket platform, which began in late 2021.
