Robinhood to offer Super Bowl betting
This will be available in all 50 states in the US.
Key Points
- This service will be available through Kalshi
- Customers will be able to trade on the outcome of the match
The trading platform Robinhood has announced it is launching event contracts for eligible customers to place trades on the upcoming Super Bowl between the Philadelphia Eagles and Kansas City Chiefs.
The launch of these event contracts by Robinhood has been done through KalshiEX LLC, an exchange & prediction market, and will be available from today in all 50 states throughout the US, whereby customers will be able to trade on the outcome of Sunday’s game.
According to the release, “Event contracts for the Pro Football Championship leverage the power and rigor of financial market structure to facilitate greater liquidity, transparency, and price discovery.
“The Pro Football Championship event contract lets customers trade one of two different event contracts based on their prediction for “who will win” between Kansas City or Philadelphia.”
Robinhood has said that through event contracts it has found a means to better serve its customers, as their interests converge across the markets, news, sports and entertainment.
Good to know: Donald Trump Jr. was appointed as Kalshi’s new Strategic Advisor last month
This news of course comes after Robinhood’s launch of event contracts in October for the US Presidential election, based on predictions for who customers thought would win.
At the time, there was a lot of talk surrounding the legality of allowing election betting to go ahead, with the US Court of Appeals for the DC Circuit ruling in favour of Kalshi in its legal battle with the Commodity Futures Trading Commission (CFTC) to continue offering contracts for wagering on the election outcome.
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