Robinhood is expanding its prediction markets to
include professional and college football, opening trading on outcomes of
America’s most-followed sport ahead of the new season.
Football Contracts Go Live on Robinhood
Robinhood Derivatives, LLC confirmed Tuesday that
customers can now access contracts tied to all professional regular-season
games and matchups involving Power 4 college programs and independents.
“Football is far and away the most popular sport in
America,” commented JB Mackenzie, VP & GM of Futures and International at
Robinhood. “Adding pro and college football to our prediction markets hub is a
no-brainer for us as we aim to make Robinhood a one-stop shop for all your
investing and trading needs.”
The contracts will be available in the Robinhood app’s
Prediction Markets Hub, with initial listings reportedly covering the first two weeks of
the season. Additional games will be added weekly as the season progresses.
Event Contracts vs. Betting
Since launching prediction markets in late 2023,
Robinhood has reported more than two billion contracts traded. The company
already offers markets tied to cryptocurrencies, economic indicators, cultural
events, and other sports.
The football rollout is part of a wider effort to
broaden Robinhood’s prediction hub, which is operated through its derivatives
unit and offered via a CFTC-regulated exchange in the United States.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
