The American Neobroker Robinhood (Nasdaq: Hood) has announced that the RobinHood Denivatives LLC is launching Pro (IE NFL) and College Football Football Purchases directly in the Robinhood application. Available through Robinhood’s prediction hub, customers can now exchange the results of the most popular Pro and College football games, including all regular pro matches and all College Power 4 and Independent Schools.
The addition of RobinHood for what is equivalent to complete sports bets through events is not without a dispute. Although all products are offered through an adjustable CFTC exchange, the “regular” US sports betting industry is very regulated, the state per state, with the offer of Robinhood essentially bypassing the same regulators and standards.
Since the first launch of the forecast markets at the end of last year, there were more than 2 billion contracts negotiating for Robinhood.
“Football is far the most popular sport in America,” said JB Mackenzie, VP & GM Futures and International in RobinHood. “The addition of Pro football and college to our prediction hub is a non-brainer for us, as we aim to make Robinhood a one-stop shop for all your investment and commercial needs.”
Pro Football and College Football Purchases are now available and will be available to all eligible customers in the coming days. At startup, RobinHood said he offers contracts for the first two weeks of the NFL and College. He plans to add weekly matchups as the season evolves (for example, NFL Week 3 games will start after week 1 ends).
Unlike sports bets, where the business sets a line, event conventions utilize the power and rigor of the financial market structure and are offered in a market where buyers and sellers interact to set the price. Customers can access real -time contracts and manage the risk by adjusting – or out of their positions to a game before a contract expires.
RobinHood said he believes in the power of forecasting markets and believes that they play an important role in the intersection of transactions, news, information, finances, politics, culture and sport. The company today offers contracts in cryptographic, economical, financial, sports, culture and much more, with others being added regularly. Eventually, RobinHood said his goal is to allow anyone to market, invest or own any financial assets and to conduct any financial transaction through Robinhood.
The prediction markets are offered by RobinHood derivatives via Kalshiex LLC, and are currently available in all US through an adjustable CFTC exchange.
The company expects NFL and College Football Football Purchases for Robinhood will be marketable daily from 8:00 am. and until 3:00 am
In order to be eligible, customers must apply and be approved on behalf of Robinhood derivatives (or already have an existing Robinhood derivative account).