Kalshi and Robinhood have partnered again to offer sports contracts, this time ahead of the NCAA men’s and women’s basketball tournaments, per iGB.
The renewed partnership was announced by both sides on March 17. Robinhood will launch a standalone prediction market hub in its app, made possible through Kalshi. According to Front Office Sports, Robinhood had just under 25 million users as of last November.
The first markets were on the NCAA men’s and women’s basketball tournaments, which began on March 18 and March 19, respectively. There will also be contracts listed for whether the Federal Reserve will change the federal funds rate at its May meeting.
Last month, the exchanges partnered to offer Super Bowl contracts, but Robinhood quickly backed out following pushback from the Commodity Futures Trading Commission (CFTC). Kalshi and Crypto.com, another entrant into the prediction space, kept their Super Bowl contracts active before and during the game. In light of that, it would appear that Robinhood is ready for a renewed push.
“We have been in close contact with the CFTC over the past several weeks and look forward to continuing to work with them to promote innovation in the futures, derivatives and crypto markets,” the company said in a statement. “These contracts will start rolling out today and will be available to all eligible customers in the coming days.”
