This photo combination, created on October 25, 2024, shows U.S. Vice President and Democratic presidential candidate Kamala Harris and former U.S. President Republican presidential candidate Kamala Harris in Houston, Texas, on October 25, 2024 Man Donald Trump in East Del Valle, Austin, Texas on October 25, 2024.
Roberto Schmidtsergio Flores | Roberto Schmidtsergio Flores AFP | Getty Images
upstart broker Robin Hood is jumping into the prediction betting game, announcing that on Monday users can start trading the 2024 presidential election, which is just eight days away.
Users can trade Kamala Harris or Donald Trump Contract starts on Monday, explain companies, as long as they meet certain criteria, including becoming U.S. citizens. The trade is offered through its Robinhood Derivatives division and ForecastEx, a subsidiary of Interactive Brokers.
Robinhood enters the suddenly crowded field of political prediction markets, which is growing this month after Kalshi platform won a key ruling The Commodity Futures Trading Commission is seeking to block trading in election results. The U.S. Commodity Futures Trading Commission (CFTC) is appealing the ruling. Soon after, Interactive Brokers launched a variety of political contracts, including election contracts.
This year’s election market has sparked some controversy, with some concerned that low trading volume could skew the market. International platform Polymarket said last week A French user was responsible for four accounts spending millions of dollars buying Trump contracts. But Polymarket said its investigation found the deal did not manipulate the market.
Robinhood said in a statement: “We believe event contracts provide people with the tools to participate in real-time decision-making, unlocking a new asset class that democratizes participation in events as they happen.” Currently, there are only presidential election contracts Trading can be done on this system.
Odds and betting platforms do not use the methods used by traditional political polls and therefore cannot replace political polls.
