# Robinhood Enters Betting Arena with Presidential Election Wagers

*Author: Kazu Umemoto*
*Published: Oct 28, 2024*
*Source: https://www.bankless.com/fr/robinhood-enters-betting-arena-with-presidential-election-wagers*

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Robinhood wants to get in on the betting scene surrounding the presidential election. In 2024, gambling in the U.S. is projected to generate $24.98 billion in revenue—roughly 22% more than in 2023. 

## What’s Happening:
- **Introducing Betting Markets:** Robinhood recently launched a new feature allowing users to bet on the presidential election, a space previously dominated by smaller platforms like Polymarket.
- **New Product Offerings:** Alongside this, Robinhood unveiled "Robinhood Legend," a free tradubg platform for all users that offers customizable charting and streamlined options trading.

## Bankless Take: 
While this might initially seem like a cash grab, Robinhood may actually be gauging interest in a betting marketplace among its users. Polymarket’s recent success illustrates people’s enthusiasm for event-based betting, with over $1.8 billion in volume handled in October alone ahead of the election. Robinhood, with its large base of younger, risk-tolerant users, could well capture a substantial portion of the event-based betting market if this test proves successful.

![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/image-5.png)