Robinhood Introduces Election Contracts for U.S. Citizens to Bet on Presidential Race Outcomes

With just eight days left until the U.S. general election on November 5, Robinhood has unveiled new contracts that allow select users to wager on the U.S. election's outcome.

Announced on October 28, these contracts enable U.S. citizens to speculate on the winner, with payouts scheduled for after Congress certifies the results on January 6, 2025.

Robinhood emphasized its commitment to providing financial opportunities for everyone, regardless of political affiliations, clarifying that the contracts do not imply support for either candidate. This development comes on the heels of a legal victory for the derivatives exchange Kalshi against the U.S. Commodity Futures Trading Commission, which allows it to offer similar contracts to American users.

Each contract is valued at up to $1.00, though its actual worth may vary. Robinhood’s policies restrict participation for certain individuals, including campaign staff and employees of political action committees.

Trading on these presidential election contracts will continue until January 5, 2025. Given the anticipated close nature of the race, with some states likely taking longer to count ballots, the results could mirror the delayed outcome of the 2020 election.

As the election approaches, polls indicate a tight race between Harris and Trump in key battleground states, while funding from crypto advocacy groups is heavily influencing congressional candidate support.