Reported 30 days ago
Robinhood has begun offering event contracts for trading on the outcomes of the U.S. presidential election, allowing users to speculate on the closely contested race between Vice President Kamala Harris and former President Donald Trump. This move responds to increasing retail interest in betting products, with the company's stocks rising 4% following the announcement. Despite concerns over the risks associated with such derivatives, industry experts view Robinhood's expansion into this area as a strategic decision to attract retail investors.
Source: YAHOO