Robinhood has announced that its derivatives division has launched contracts on the US presidential election. Now, users of the platform will be able to bet on the outcome of the presidential election, which will take place on November 5, 2024.
According to the company, the contracts will be paid after the US Congress certifies the election results on January 6, 2025. There is another restriction - only citizens of the United States can place bets, but not everyone. For example, employees of the campaign headquarters of candidates from the Republican and Democratic parties will not be able to buy contracts.
Robinhood is committed to democratizing finance for everyone, regardless of who is in power. And while we allow our customers to bet on the outcome of the 2024 presidential election, the results and real-time market movements do not indicate Robinhood's support for any candidate, the company says on its website.
Robinhood joined the prediction market after betting platform Kalshi won a court case against the U.S. Commodity Futures Trading Commission in early October, allowing the platform to continue offering U.S. users bets on election results.
