Robinhood has introduced U.S. presidential election event contracts, allowing retail investors to place bets on the results of the 2024 race for the White House that pits Vice President Kamala Harris against Republican candidate Donald Trump.
The move, announced on Oct. 28, marks Robinhood’s foray into event contracts, a type of derivative that’s regulated by the Commodity Futures Trading Commission (CFTC), which classifies the contracts as a type of swap. The regulator is engaged in an ongoing legal battle to block trading platform Kalshi from offering similar contracts, which could have implications for Robinhood’s newest offering if the CFTC prevails with its appeal….