Robinhood To Launch New Event Contracts for Betting on US Election Amid Polymarket’s Explosion in Popularity

Bitget App

Trade smarter

Bitget

News

Daily Hodl2024/10/27 16:00

By:by Daniell Marlow

Following the footsteps of the popular crypto betting platform Polymarket, retail trading giant Robinhood is launching a presidential election event contract for traders to bet on.

In a new announcement, Robinhood introduces its newest feature, event contracts.

“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 an RHD account, including being a U.S. citizen and more.

Once approved, customers can trade based on their prediction for ‘who will win the 2024 presidential election.’ ” There will be two contracts to choose from–one for Kamala Harris and one for Donald Trump.”

Robinhood says the new contract is in response to customer demand for access to real-time markets.

Polymarket, a real-time prediction market platform, exploded onto the scene within the last several years. Polymarket currently gives Republican candidate Donald Trump 66.4% winning odds over Vice President and Democratic nominee Kamala Harris. Its US Election bet has done a total of $2.585 billion in volume.

Peter Thiel’s Founder’s Fund, Ethereum ( ETH ) co-founder Vitalik Buterin and other high-profile investors like Dragonfly and ParaFi invested $70 million in the crypto betting platform in May.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix

Featured Image: Shutterstock/Ongky Ady Widyanto

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14