Robinhood Launches NFL, College Football Predictions Markets
Soon, you’ll be able to trade NFL and college football game results like stocks.
In September 2021, the Kansas City Chiefs and Baltimore Ravens will play in the NFL.
On November 30, 2024, the UMass Minutemen and UConn Huskies play a college football game.
On Tuesday, August 19, the financial services company Robinhood announced that it would be introducing professional and collegiate football prediction markets on its app. Consumers can now wager on the results of all NFL regular-season games and the best college games.
Users will be able to exchange contracts linked to the results of every professional game and contest between Power 4 schools and Football Bowl Subdivision (FBS) independents through the Prediction Markets Hub.
“The most popular sport in America is football,” stated JB Mackenzie, Robinhood’s general manager of international and futures. “Adding pro and college football to our prediction markets hub is a no-brainer for us as we aim to make Robinhood a one-stop shop for all your investing and trading needs.”
In contrast to sports betting, Robinhood’s event contracts operate similarly to financial markets, with real-time price setting by buyers and sellers. During a game, customers are free to change or leave their positions until the end of the contract.
Contracts for the first two weeks of the season are currently available, according to the firm. As the season goes on, more games will be added every week.
More than two billion contracts have been traded since Robinhood launched its prediction markets in late 2024. Contracts from the fields of cryptocurrencies, economics, finance, culture, and sports are now listed on the platform, and more are anticipated.
As its prediction markets expand, the company hopes to offer more sports betting alternatives. Chief financial officer Jason Warnick stated during a July quarterly earnings call that sports betting is where Robinhood is witnessing the most level of participation, according to a CNBC article.
Those who qualify and are granted access to a Robinhood Derivatives account can trade every day between 8 and 3 a.m.
