Prediction market platforms are dominating headlines recently, and Robinhood is one of the biggest operators in the US since launching in March after partnering with Kalshi. It initially focused on contracts relating to macroeconomic events like interest rates and inflation indicators, before expanding into sports. The operator revealed last month that it has handed over 4 billion event contracts since launching.
key is to ensure it’s always offering a “regulatory-compliant product”
The California-based company is reportedly looking to expand outside the US following its success to date. The UK and Europe are key targets as international demand is growing. Speaking to Bloomberg, Robinhood Vice President and General Manager of Futures and International JB Mackenzie said that the key is to ensure it’s always offering a “regulatory-compliant product.”
The company is in talks with regulators, such as the UK Financial Conduct Authority, to see how they might structure such a product. Online gambling operators will be watching developments closely, with many big names like Flutter Entertainment and DraftKings actively exploring opportunities in the space.
