Plus500 launches sports event-based contracts in the US

(Sharecast News) - Plus500 announced on Monday the launch of sports event-based contracts in the US, expanding its prediction markets offering there. It said these CFTC-regulated financial contracts represent the highest-engagement category in prediction markets and "significantly" expand its addressable market.

The new offering provides US retail customers with access to CFTC-regulated Kalshi sports event-based contracts, delivered through the company's proprietary futures trading platform.

The fintech group said this delivers its institutional-grade execution, clearing and risk management infrastructure "through an intuitive, seamless customer experience, enabling customers to apply their sporting knowledge and express a view on sporting outcomes through a regulated, exchange-traded financial contract".

Chief executive David Zruia said: "Today marks an important milestone for Plus500, and we are excited about what it represents. The launch of sports event-based contracts, CFTC-regulated financial instruments available through our proprietary futures trading platform, is the direct result of our technological capabilities and the infrastructure we have built.

"It advances our next-generation prediction markets offering and brings Plus500 directly to the heart of the US retail market. Spanning NFL, NBA, MLB and beyond, this is one of the most engaging and fast-moving spaces in financial markets today, and Plus500 is now fully part of it."

See latest RNS on Investegate