Mentioned:
BULL -8.20% HOOD -6.63%
Webull just recently became a publicly traded company. And now, they’re making a bold move to be on the leading edge of the craze around prediction markets.
What’s happening:
- Webull (NASDAQ: BULL) has formed a new partnership with Kalshi to launch event contracts to allow Webull users to be able to bet on the outcome of real world events
Why it matters:
- This is the second time that Kalshi has formed a partnership with a major publicly traded brokerage platform, after just recently striking a deal to roll out prediction market contracts with Robinhood (NASDAQ: HOOD)
Going deeper:
- Webull and Kalshi’s partnership will initially be focused on allowing Webull users to trade contracts that are focused on financial and economic events
- Webull just recently completed a large SPAC transaction with SK Growth Opportunities and began trading on the Nasdaq, which initially sent their share price soaring by more than 500% in a matter of days
The intrigue:
- Kalshi previously made major cultural waves when they announced that they had added Donald Trump Jr as an official advisor to the company
