Robinhood Rolls Out Election Event Contracts, Letting Users Trade on 2024 Presidential Race Outcomes

Robinhood launches election event contracts, letting users trade based on 2024 presidential race predictions

Oct 28, 2024

Summary

Robinhood introduces election event contracts, enabling trading tied to the 2024 presidential race between Trump and Harris.

Announced by Robinhood (HOOD, Financial), presidential election event contracts let consumers trade according on their expectations for the 2024 U.S. presidential winner. Beginning Monday, a small group of users will first be gradually allowed to access the new trading capability.

Principal contenders for the much-awaited election will be former President Donald Trump and Vice President Kamala Harris. The election falls on November 5. Two contracts, one for Harris and one for Trump, will be offered according to Robinhood. Tradeable contract interested customers will have to apply for and be accepted for an RHD account. Among other things, approval criteria call for becoming a U.S. citizen.

The addition of election event contracts gives Robinhood's products a fresh angle and lets consumers actively participate in trading connected to political results. This action underscores Robinhood's approach to widen its product range for regular investors and coincides with growing enthusiasm in the next election.With a Buy rating on Monday, Jefferies started covering

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