US neobroker Robinhood (NASDAQ:HOOD) has taken the next step toward what looks like an expansion into sports betting, launching “event contracts” for the upcoming Superbowl pro football championship. Robinhood’s Superbowl event contracts will allow eligible customers to place trades on the outcome of the upcoming showdown between the Kansas City Chiefs and Philadelphia Eagles, for the US National Football League championship on February 9.

Event contracts for the Superbowl are rolling out to all eligible Robinhood customers starting today.

Robinhood has stated that its mission is to democratize finance for all. With an emerging asset class like event contracts, the company said that it now recognizes an opportunity to better serve its customers as their interests converge across the markets, news, sports, and entertainment. Available in all 50 states through KalshiEX LLC, a regulated exchange, the Superbowl event contract gives eligible customers the power to trade on the outcome of the big game – effectively, sports betting.

The event contract lets customers trade one of two different event contracts based on their prediction for “who will win” the Superbowl between Kansas City or Philadelphia. To participate, customers must download the latest version of the app, and apply and meet certain criteria to be approved for a RHD account.

Event contracts for the Superbowl follows the launch of the Robinhood’s Presidential Election Market last October, which enabled customers to trade event contracts through RHD based on their prediction for “who will win the 2024 US presidential election.” The Presidential event contract was apparently a good money maker for Robinhood.

To be eligible, customers must apply and be approved for a Robinhood Derivatives account (or already have an existing Robinhood Derivatives account). The “Pro Football Championship event contracts” are offered by Robinhood Derivatives, LLC through KalshiEX LLC. Robinhood Derivatives, LLC is a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA) (NFA ID 0424278). As a registered futures commission merchant, Robinhood Derivatives, LLC, does not make markets in any futures or event contracts.