Popular trading platform Robinhood is expanding into presidential election trading, allowing U.S. citizens to trade contracts tied to Kamala Harris or Donald Trump. This move follows a recent favorable ruling for competitor Kalshi against the Commodity Futures Trading Commission (CFTC) and positions Robinhood alongside established players in the prediction markets space. Despite some controversy and caution from industry experts, prediction markets are gaining momentum. Robinhood's stock has been performing well in 2024, with shares climbing 112.40% year-to-date. The company maintains a strong financial position, but its valuation metrics remain elevated.



Other News from Today