Robinhood Signage Logo on Top of Glass Building. Source: Askar - stock.adobe.com

Key Takeaways:

Election Prediction Contracts: Robinhood has introduced U.S. election prediction contracts, allowing eligible users to bet on the presidential race outcome between Kamala Harris and Donald Trump.
Exclusive to U.S. Citizens: Only U.S. citizens can participate, with restrictions on specific groups like political campaign staff and PAC members.
Certified Settlement: Contracts will settle based on results certified by Congress on Jan. 6, 2025, with trading open until Jan. 5, 2025.

Robinhood has introduced election prediction contracts, allowing eligible U.S. users to speculate on the outcome of the 2024 presidential race between Vice President Kamala Harris and Donald Trump.

Announced on October 28, the contracts are offered by Robinhood’s derivatives branch and will settle after the results are certified by Congress on January 6, 2025.

Presidential election contracts are rolling out to Robinhood customers.

Update your Robinhood app, and check out https://t.co/sxgifdfLjE. Stay tuned for daily updates leading up to election day. pic.twitter.com/EGvdCU5kyD
— Robinhood (@RobinhoodApp) October 28, 2024

Robinhood clarified that the contracts do not endorse any candidate or party and are part of the platform’s commitment to “democratizing finance.”

These contracts follow a recent court ruling that allowed Kalshi, a similar derivatives platform, to offer election-based contracts.

Other platforms, like Polymarket, also offer prediction markets on high-profile events, though they limit access for U.S. residents.

Robinhood’s contracts are capped at $1.00 each, but trading is restricted for certain groups, including campaign staff and PAC members.

Trading will remain open until January 5, 2025, amid tight polls in battleground states and heavy financial backing from cryptocurrency interest groups in congressional races.