Partnership with brokerage makes event contracts available to large swath of population.
Robinhood announced on Monday (3 February) morning that it will be offering event contracts via Kalshi for Super Bowl LIX, creating the potential for a significant expansion of prediction market event trading. The Super Bowl is set for Sunday (9 February) between the Kansas City Chiefs and Philadelphia Eagles.
Front Office Sports was the first to report the announcement.
According to a press release from Robinhood, the brokerage views event contracts as “an opportunity to better serve our customers as their interests converge across the markets, news, sports and entertainment.” It plans to have event contracts available in all 50 states through Kalshi, saying they “leverage the power and rigour of the financial market structure to facilitate greater liquidity, transparency and price discovery”.
Access to Robinhood marketplace
The partnership furthers Kalshi’s rapid movement in getting Super Bowl wagers via event contracts available to the public. Kalshi filed paperwork for self-certifying sports event contracts for wagering last month through the Commodities Futures Trading Commission (CFTC).
The new agreement offers event contracts to nearly 25 million people who have accounts through Robinhood. According to its Q3 2024 report, the brokerage claims 11 million account holders are “active monthly users”.
Kalshi’s event contract for Super Bowl LIX is a straightforward one, with the only game action-related market available being who will win Sunday’s game. That’s similar to a moneyline wager with a traditional sportsbook.
Kalshi currently has four Super Bowl-related event contracts worth more than $4 million (£3.2 million/€3.9 million) available. Wagering on who will win Sunday accounts for $2.3 million of those contracts. Trading on the Robinhood site is expected to be available from 8am to 3am ET daily leading up to Sunday.
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