Robinhood returned to the sports betting prediction markets scene Monday, again partnering with Kalshi to offer exchanges for the upcoming men’s and women’s NCAA Tournaments that begin this week.
The notable difference between this and Robinhood’s short-lived partnership with Kalshi last month to offer event contracts for Super Bowl LIX is that Robinhood has now constructed its own standalone prediction markets hub. Robinhood backed away from offering Super Bowl markets almost immediately after its announcement following a request from the Commodities Futures Trading Commission (CFTC) to “not permit customers to access” such markets.
In a statement issued Monday morning, Robinhood explained that building its own prediction market hub allows the company “to better serve our customers as they look to engage with events that align with their interests.”
