Robinhood app now comes with NFL, college football predictions
Aug. 19 (UPI) -- Financial marketplace Robinhood said Tuesday its newly launched predictive market in its app will allow customers to trade on a series of different professional and college football outcomes.
Robinhood Derivatives LLC said that, within the Robinhood app via the Prediction Markets Hub, its U.S.-based customers now can trade on outcomes of the most popular pro and college football games, which includes all regular-season matchups and college Power 4 schools and independents, according to company officials.
"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," JB Mackenzie, Robinhood's VP & GM of Futures and International, said in a statement.
Mackenzie described American football as "the most popular sport" in the nation.
Robinhood officials said pro and college football prediction markets are "rolling out now" and will be available to eligible customers in the next few days.
Robinhood Derivatives is a separate but wholly-owned entity of Robinhood Markets.
According to Robinhood, its customers can access contracts in real time and manage risk "by adjusting -- or exiting -- their positions up to and throughout a game before a contract expires."
In February, the U.S. Securities and Exchange Commission ended its investigation into Robinhood Crypto, saying it will not pursue further action with company officials adamant it never should have been opened to start.
A report the same month indicated that millions of Americans sought help for gambling addiction in the wake of the U.S. Supreme Court's 2018 ruling that allowed states to legalize sports betting.
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