Slavery enters the betting business, launches a prediction market

The online Robinhood trading platform is positioned as a financial application for people, promising “Investing for All”. Obviously the company has decided that what people need, as the stock exchange continues to undergo A ”Correction“Is the ability to bet. declared That he will launch a new forecasting center in his app, which will allow people to “trade the results of some of the world’s largest events”, which is obviously different from gambling in some way.

Slavery Press release The forecast Center will start with the ability to “trade contracts” for what they believe will be the upper limit of the target interest rate, which the Federal Reserve will announce in May. It will also start with the ability to predict the results of the forthcoming Madness tournament, with both male and female brackets available.

While the hub will live in the RobinHood app, the “contracts” are provided by Kalshi, which is technically a federal regulated exchange for the commission for trade in commodity futures – but also there is also, but it is also, but it is also withdrawn Ire From the same agency that allows people to bet on the outcome of the election. Shortly before Trump took office, CFTC Accused The choice of Kalshi for Trojan Horse contracts to facilitate the transformation of Kalshi into a large -scale gambling market.

But don’t worry, Kalshi has suppressed these fears of …Add Donald Trump Jr. to his advice of advisersS So, less “addressed exceptional concerns about the unregulated gambling” and more “attached to the president’s kid”, but you know the same result!

Robinhood has tried to enter the prediction game before. This allowed people to rely on the result of the presidential election that attract criticism from legislators In order not to offer enough protection for users who have been exposed to speculative “investment”. The company also tried to enter the Super Bowl but downloaded after CFTC Ask him to hold his horsesS It also stems from Kalshi, which was the exchange offering contracts that Robinhood allowed its users to buy – but that seems to have decided as the chairman of the New CFTC Caroline Pham signaled that these contracts will be allowed Under the new administration.

If you are wondering what is the difference between futures contracts tied to the result of things like elections and sports events and gambling, join the club. The whole argument here seems that you do not bet on the odds set by the bookmaker, but instead buy a “derivative contract” tied to the result of a specific event. This obviously makes it an investment, not a bet.

Federal Judge has support the lawfulness Of this type of “investment” despite the CFTC’s objections of the previous administration, so it seems that slavery probably has a green light here. So far Maintained on Peter Till Polymarket still Technically illegal in the USIt also has a very strong market detention.

There is certainly no social comment on the fact that the service that supposedly “democratizes finances” (please do not raise the time They literally stopped retailers From the purchase or sale of certain shares, as it cost people’s wrong money) quickly becomes a platform for purely variable and speculative “assets” such as cryptocurrency and events forecasts. People with the smallest information and the most lose now they have access to the most risk bets. What can go wrong?