Robinhood launches event contracts ahead of Super Bowl

Source: Robinhood

Trading and investment platform Robinhood has launched Pro Football Championship event contracts.

This will allow its users to buy event contracts on the outcome of the upcoming Super Bowl as the Kansas City Chiefs take on the Philadelphia Eagles.

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Event contracts allow customers to trade on the outcome of specific events, with users putting money on either outcome based on their predictions.

Robinhood has previously offered this model, trading on the outcome of the 2024 presidential election.

However, this will be the first time Robinhood has provided the ability to purchase and sell outcomes on sports. Event contracts will only be available to eligible customers and will be offered in all 50 states.

As users are trading outcomes rather than placing sports bets, event contracts are available even in states where online sports betting isn’t yet legal.

In recent news, Robinhood appointed Christopher Payne to its Markets’ Board of Directors in December.

Vlad Tenev, Chairman and Chief Executive Officer of Robinhood, said of the appointment, “Christopher is a seasoned operator who has helped build category-defining companies at pivotal points in their evolution. His experience aggressively driving businesses forward will be invaluable as we continue to deliver great products in service of our mission.”