Poker Writer
Users on both Robinhood and Kalshi will be able to trade on the outcomes of pro and college football games this fall. Available prediction markets are expected to include game results, spreads, totals, and even player props.
Both platforms are now delving further into an offering similar to sports betting, focusing on the most popular sport in the U.S.
Kalshi already carried some prediction markets akin to what sportsbooks would term “futures,” such as whether each team would win the Super Bowl and whether a given player would win MVP. It also offered contracts on which team would win a given game.
Now, it plans to add contracts around spreads, totals (also known as over/unders), and props such as whether a player will score a touchdown.
Robinhood To Leverage Kalshi Partnership With Football Contracts
Robinhood, a popular finance and trading app, announced on Tuesday that it would be introducing new prediction markets for football games via its partnership with Kalshi. Customers can trade on NFL games as well as college football “power four” conference games.
While these prediction markets are not visible yet, they will appear in the coming days before the season begins. College football season kicks off this Saturday, Aug. 23.
Robinhood Vice President of Futures and International J.B. Mackenzie talked about the importance of adding football:
Adding pro and college football to our prediction markets hub is a no-brainer for us as we aim to make Robinhood a one-stop shop for all your investing and trading needs
The new offerings continue to blur the line between sports betting and prediction markets. The prediction markets on Robinhood will differ from sports betting in that the buyers and sellers will engage with one another to set the prices. Robinhood is positioning the move as an alternative to traditional betting platforms.
The Commodity Futures Trading Commission (CFTC) has already licensed Kalshi in the U.S. However, it continues to fight a legal battle for survival, taking a recent hit in a Maryland court decision.
Kalshi Expanding Sports Offerings
Traditionally, Kalshi’s options for sports trading have been limited to whether a team or individual wins a specific event or not. But now they will expand beyond just predicting game winners and futures. Kalshi plans to include contracts on several more detailed aspects of the games.
Those include point spreads, point totals and several specific props during the games. Traditionally, props revolve around more granular actions in a game such as touchdowns and the individual stats of a specific player.
This creates a much more immersive experience for traders and give them far more options overall. Kalshi’s sports contracts now align more closely with the offerings at traditional sportsbooks.
Kalshi’s new football markets don’t appear on the site as of early evening on Aug. 19.
Sportsbook powers that be in the U.S. such as DraftKings and FanDuel have consistently said they’re “monitoring” the situation as Kalshi and other prediction products position themselves to take market share in sports.
