Zinger Key Points
- Robinhood announced the launch of its new prediction markets hub for customers to trade on the outcome of world events.
- Customers will be able to trade contracts on trade the projected upper bound of the target federal funds rate in May and other events.
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Robinhood Markets, Inc. HOOD shares are trading higher on Monday. The company announced the launch of its new prediction markets hub for customers to trade on the outcome of world events.
What To Know: At launch, the hub will allow users to trade contracts on the projected upper bound of the target federal funds rate in May, as well as the outcomes of the upcoming men's and women's College Basketball Tournaments.
“We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture,” said JB Mackenzie, VP & GM of Futures and International at Robinhood.
The prediction markets hub will be avaible directly within the Robinhood App.
See Also: Scholar Rock Stock Jumps On Additional Data From Pivotal Trial Of Muscular Dystrophy Treatment
HOOD Price Action: At the time of writing, Robinhood shares are trading 9.25% higher at $42.87, according to data from Benzinga Pro.
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