Robinhood launches US election prediction contract, users can bet on Harris or Trump to win

According to CNBC, Robinhood announced that its users can now trade forecast contracts for the 2024 US presidential election, supporting bets on the outcome of Kamala Harris and Donald Trump. This transaction is jointly provided by Robinhood's derivatives division and ForecastEx, and is only open to US citizens who meet specific conditions. Robinhood's move has entered the increasingly crowded political prediction market. Previously, the Kalshi platform won a crucial ruling against the CFTC, allowing for continued trading of election result contracts. In addition, competitors such as Interactive Brokers have recently launched similar political contracts. Robinhood stated that such event contracts provide users with a real-time decision-making tool, opening up new asset classes.