“” Robinhood Rolls Out Presidential Election Betting

Hannah Miao hedcut
By
Hannah Miao
, Reporter
Robinhood is launching contracts that allow customers to bet on the outcome of the presidential election, the brokerage said Monday.
The contracts are Robinhood’s first foray into prediction markets and come after a recent federal court ruling effectively legalizing election betting in the U.S.
The launch on Robinhood—which has about 24 million funded customers—opens election betting to a far broader user base than those found on other platforms offering such betting to Americans, such as Interactive Brokers or Kalshi.
The contracts will begin rolling out Monday to a limited number of customers who apply and meet certain criteria, Robinhood said.
Customers can buy contracts for Kamala Harris or Donald Trump. Contracts are priced between 2 cents and 99 cents and fluctuate depending on what users are willing to pay for that outcome. Users who are proved correct in the end receive $1 per contract, while the other contract receives no payout.
Robinhood is offering the contracts through ForecastEx, a prediction market owned by Interactive Brokers that debuted earlier this year.”