Robinhood is trying to rename sports as investment

Robinhood has received a reputation as a platform where people make speculative investments violently without adequate handrails. Therefore, it is right to enter into the field of sports betting. Company Declare On Tuesday, the “prediction markets” of the college and professional football launches as part of a partnership with Kalshi.

According to the company, you will start to include “contracts” for NFL and NFL games in the coming days, with plans to open each match for two weeks before its start. “Football is the most popular sport in America,” said JB Mackeenzie, Vice President and Director General of Futures and International Contracts at Robinhood. statement. “Adding Pro and College Football to HUB to our Fatening Market Center is something that is unreasonable for us because we aim to make RobinHood one store for all your investment and commercial needs.”

It is a little funny and great sadness that Robinhood puts the ability to put your money on the results of football games as “investment”. But it is definitely honest, although it is most likely unintentionally. The fact is that Robinhood wants you to move your money because this is what makes money, and compensation for every treatment that you go to market makers. For this reason application It raises experienceUsing Dark style techniques To keep you bet that you can overcome the market. By adding a sports bet to this mix, it shows that it is a casino as much as the stock exchange.

Robinhood will not agree with this frame. in Declaration Declaration Football markets, the company specifically distinguishes sports betting from its offers. “Unlike the sports bet, as the company determines a line, the events contracts benefit from the strength and rigor of the financial market structure and are offered in a market in which buyers and sellers interact to determine the price,” as he argued. “Customers can access contracts in actual time and manage risk by setting or going out – their positions to the game and the period before the contract is over.”

Many countries do not agree to what is worth it. At least seven states Send stop and stop orders to Kalshi, and ask the company to stop providing prediction markets for its scale. These countries argue that there is “no difference in meaning” between sports trading and sports betting, which seems difficult to say. Sports “trading” is still effectively betting on the results of the game, only with the change of markets.

In nature Continue to work unabated. It is possible that she will win any challenge to her law if it reaches the federal level, given that the company A strategic consultant seat was handed over to Donald Trump Junior.Earlier this year. If you are of gambling, it is possible that it is a safe bet that Kalshi can pull some tendons.