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Robinhood launches contracts to wager on presidential election

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The debate over legalizing election betting


Expert weighs in on future of election betting

05:28

Robinhood on Monday said traders can begin using its platform to bet on the U.S. presidential election that is just over a week away.

Investors using Robinhood have the opportunity to make money by speculating on the outcome of the race between Vice President Kamala Harris and former President Donald Trump.

The trading platform said it would begin offering the contracts on Monday to a limited number of customers, who must be U.S. citizens. 

Relatively new and viewed as high risk compared with more mainstream financial instruments such as stocks or bonds, event derivatives trading allows investors to buy and sell contracts to speculate on how certain events will play out. 

The U.S. Commodity Futures Trading Commission tried to legally block election-outcome trading, with an appeals court upholding a federal court ruling in September that allowed it. The CFTC is appealing that ruling, which involved the trading platform Kalshi.

Interactive Brokers has also launched multiple political contracts, including those involving the election now eight days away. 

Meanwhile, other betting markets, such as Polymarket, are predicting that Trump is favored to win the Nov. 5 election. Polymarket last week said a sole French trader was behind four accounts that spent millions to purchase the Trump contract. The international platform determined it was not market manipulation. 

“We believe event contracts give people a tool to engage in real-time decision-making, unlocking a new asset class that democratizes access to events as they unfold,” said Robinhood in a statement.

Shares of Robinhood rose 3.1% in the wake of the company’s announcement. 



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Sen. Van Hollen says Biden is “not fully complying with American law” on Israeli arms shipments

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Sen. Van Hollen says Biden is “not fully complying with American law” on Israeli arms shipments – CBS News


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Democratic Sen. Chris Van Hollen of Maryland, who last week backed Sen. Bernie Sanders’ bill to block U.S. sending arms to Israel, told “Face the Nation with Margaret Brennan” that President Biden ” is not fully complying with American law” on sending arms to Israel.

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Rep.-elect Sarah McBride says “I didn’t run” for Congrees “to talk about what bathroom I use”

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Rep.-elect Sarah McBride says “I didn’t run” for Congrees “to talk about what bathroom I use” – CBS News


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Rep.-elect Sarah McBride, the first openly transgender person to be elected to Congress, tells “Face the Nation with Margaret Brennan” that as Republicans have sought to put forward a bathroom ban in the Capitol, she “didn’t run for the United States House of Representatives to talk about what bathroom I use.”

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11/24: Face the Nation – CBS News

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11/24: Face the Nation – CBS News


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This week on “Face the Nation with Margaret Brennan,” Sens. Rand Paul and Tammy Duckworth discuss President-elect Donald Trump’s Cabinet picks after a busy week on Capitol Hill. Plus, Rep.-elect Sarah McBride, the first openly transgender person elected to Congress, joins.

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