Robinhood jumps into election betting
Robinhood has jumped into election trading just a week before the race between Donald Trump and Kamala Harris draws to a close.
You can now trade a Kamala Harris or Donald Trump contract on the trading platform Robinhood. With just a week remaining before the election, this program, which launched on Monday, enables users to bet on which candidate they believe will win, adding a new way to engage with the political process through the platform.
Robinhood’s decision to launch this feature follows a recent legal development involving Kalshi, another trading platform, that won a crucial ruling against the Commodity Futures Trading Commission (CFTC), which had attempted to halt trading on election outcome contracts.
This legal victory paved the way for Robinhood to introduce its own election-focused trading option, reflecting a growing trend of financial platforms entering the realm of political event-based markets.