Robinhood eyes UK and EU rollout of its booming prediction markets, but faces questions over classification.
Following the strong uptake of its US prediction markets, discount brokerage Robinhood is exploring ways to bring the offering overseas, with early plans to launch similar services in the United Kingdom and Europe.
The company introduced its Prediction Markets Hub earlier this year, a platform that lets users trade on the outcomes of real-world events, such as interest rate decisions or sports results. Now, Robinhood is in discussions with the UK Financial Conduct Authority (FCA) to determine how such products could be offered locally, Bloomberg reported Tuesday.
However, one of the main challenges lies in regulatory classification.
