TechFlow news — On March 17, Robinhood Derivatives, LLC (RHD) announced the launch of a prediction market hub directly within the Robinhood app, offering users the opportunity to trade outcomes on major global events. At launch, the hub will allow users to trade contracts predicting the upper bound of the Federal Reserve's May funds rate, as well as contracts related to the upcoming men's and women's college basketball tournaments.
"We believe in the power of prediction markets and see them playing an important role at the intersection of news, economics, politics, sports, and culture," said JB Mackenzie, Vice President and General Manager of Robinhood Futures and International. "We're excited to offer our customers new ways to engage with prediction markets and look forward to operating this business in compliance with existing regulations."
