Robinhood is exploring launching an offshore prediction market outside the United States

BlockBeats News, September 30th, according to Bloomberg, Robinhood Markets Inc. is exploring expanding its predictive market product to countries outside the United States, a move that would increase the influence of this fast-growing and often controversial industry.

The brokerage has been in communication with overseas regulatory bodies (such as the UK Financial Conduct Authority FCA) on how to provide localized predictive markets, as demand for this field continues to grow. The key issue is how these products are designed and regulated— in the United States, predictive markets are considered futures products, but in other regions, they are often classified as gambling.