Robinhood Unveils Prediction Markets Hub for US Retail Traders

Robinhood Markets Inc. is unveiling a hub inside its popular app for retail traders to bet on the likelihood of certain event outcomes.

Prediction markets have grown in popularity among investors, spurred on by the surge of wagers ahead of the November US presidential race where Robinhood customers could bet on election outcomes. Last month, the company rolled out — and then quickly rescinded — sports-event contracts, with the Super Bowl specifically in mind.

This hub, launching Monday according to a statement, will first facilitate bets for what the upper bound of the federal funds rate ...