Kamala Harris and Donald Trump Face Off as Robinhood Enables Presidential Election Betting

Robinhood's New Betting Feature for Presidential Elections

Robinhood on Monday announced that traders can now wager on the outcome of the U.S. presidential election, which is only a week away. This offering allows investors to speculate on the race between Vice President Kamala Harris and former President Donald Trump.

Details on the Trading Contracts

The trading platform revealed that a limited number of customers can access these new contracts starting Monday, with eligibility restricted to U.S. citizens. Event derivatives trading, while high risk, provides a unique opportunity for users to buy and sell contracts based on event predictions.

CFTC's Stance on Election Betting

The U.S. Commodity Futures Trading Commission (CFTC) previously sought to prohibit trading on election outcomes. However, a recent appeals court ruling upheld the legality of such trading, allowing platforms like Robinhood and Kalshi to offer these services.

Market Predictions and Other Platforms

• Polymarket suggests that markets favor Trump for the Nov. 5 election.
• Interactive Brokers has also introduced multiple political contracts ahead of the election.

As election day approaches, the interest in betting on political outcomes continues to grow. For more details on Robinhood's betting features, visit their website.