US neobroker Robinhood (NASDAQ:HOOD) has announced the launch of presidential election event contracts, ahead of the November 5 US general election. The contracts will be offered by its Robinhood Derivatives, LLC (RHD) unit.
Event contracts allow customers to trade on the outcome of specific events, such as whether a candidate will win an election.
Robinhood’s presidential election event contracts will begin rolling out to a limited number of customers today. Customers must apply and meet certain criteria to be approved for a RHD account, including being a U.S. citizen. Once approved, customers will be able to trade based on their prediction for “who will win the 2024 presidential election.”
There will be two contracts to choose from–one…
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