Robinhood's new feature allows users to bet on presidential elections, letting them trade contracts for candidates and potentially earn $1 for each contract if their candidate wins.
The company emphasizes that this is a market, not a political vote, allowing customers to trade on specific event outcomes, like election results.
Despite growth in platforms like Polymarket, the CFTC has aimed to restrict election betting, but a recent appeals court ruling hindered their efforts.
This move taps into a trend where prediction markets are flourishing, showing a lucrative avenue for user engagement and speculation in political outcomes.
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