The company is launching a new hub for investor predictions which will enable customers to buy event contracts based on the outcome of sport matches and other events.

Robinhood Markets Inc (HOOD) is launching a new prediction markets hub within its app, allowing retail investors to engage with real-world

Robinhood Markets (NASDAQ:HOOD) is launching a prediction markets hub on its trading platform to let customers make bets on outcomes of key events like Federal Reserve policy meetings and the NCAA college basketball tournaments,

The investing app will offer a predictions market hub. Early offerings include bets on March Madness and the direction of interest rates.

Trading platform Robinhood on Monday launched a prediction markets hub in its app that allows customers to trade on event outcomes, including the expected upper limit of the Federal Reserve funds rate in May.

The move comes after prediction platform Polymarket rose to fame during the U.S. Presidential election last year, attracting over $3.6 billion in bets.

Robinhood has unveiled a prediction markets hub within its app, signaling its full embrace of the emerging sector. In an announcement on its website, the electronic brokerage platform said the hub will allow users to trade on the outcome of real events.

Robinhood launched a “prediction markets hub," allowing customers to buy and sell contracts (including for sports events) anywhere in the U.S.

Robinhood briefly opened a prediction market service of its own before the election, and then announced a market for the Super Bowl outcome, though it yanked the latter offering after failing to receive requisite clearance from the Commodity Futures Trading Commission. It now appears the company has obtained the requisite permissions from the CFTC.

Robinhood's new prediction market hub, powered by Kalshi, targets NCAA basketball bets, positioning the platform against Polymarket.