Robinhood is relaunching its sports event contract trading service, focusing on March Madness tournaments through its prediction markets hub. The platform will allow its 25 million customers to trade contracts for both men's and women's NCAA basketball tournament games.

The service, available through a partnership with CFTC-regulated KalshiEX LLC, enables users to purchase contracts for tournament matchups. Correct predictions earn $1 per contract, with trading hours running from 8 a.m. to 3 a.m. daily. Users can close positions any time before game completion.

This return follows Robinhood's brief Super Bowl prediction market venture in February 2025, which was discontinued after CFTC intervention. The company had partnered with Kalshi to offer Eagles-Chiefs Super Bowl outcome contracts, but ceased operations within 24 hours following a CFTC request.

"We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture," said JB Mackenzie, VP & GM of Futures and International at Robinhood. "We're excited to offer our customers a new way to participate in prediction markets and look forward to doing so in compliance with existing regulations."

The company previously expressed disappointment over the CFTC's Super Bowl trading suspension, noting their regular communication with the commission about product plans and advocacy for balanced regulation in futures and derivatives markets.

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