Neobroker Webull has announced that it has partnered with Kalshi, the first CFTC-regulated exchange with prediction markets. The partnership will offer users the ability to trade binary “event contracts” through the Webull platform.

Interestingly, Webull’s announcement comes just days after US regulators pressured its competitor Robinhood (NASDAQ:HOOD) to remove the Event Contract it listed for clients to “trade” on the winner of the National Football League’s Super Bowl championship game – one of the most heavily bet sports events annually.

However based on Webull’s announcement, it looks like the company plans to avoid offering what amounts to sports betting with its offering, and stick to economic related events. Robinhood did successfully offer an Event Contract last year, on the outcome of the US Presidential election.

Webull said that prediction markets are one of the fastest growing asset classes in the US today. Kalshi has recently secured its ability to launch financial brokers on the platform. To ensure investors have access to best-in-class tools, Webull said it has relentlessly driven innovation over recent years, continually enhancing its platform to meet shifting market demands – as seen with the increase in short-dated options volume.

This partnership will provide Webull users with a unique, CFTC-regulated product, allowing them to be more precise with risk management around intraday market movements by utilizing a cash settled short-term contract.

Anthony Denier, Group President and US CEO at Webull said,

“We have continually focused on equipping our customers with the best products and streamlined trading tools while evolving alongside their needs. Offering prediction markets is a key step in fulfilling that commitment and expanding opportunities for our investors to access all areas of the capital markets. Kalshi is a true market disruptor, and we look forward to building upon this partnership in the coming months.”

At the onset of this partnership, Webull users will be able to access short-term cash-settled event contracts on the platform, provided by Kalshi. Over time, the companies will look to add event contracts on a range of economic events to the platform. Kalshi and Webull will partner to provide educational content that empowers retail investors to make more informed investment decisions with this new offering. Webull plans to become a clearing member of Kashi through this partnership.

Tarek Mansour, co-founder and CEO of Kalshi added,

“Event contracts are the next evolution of financial markets, and we are excited to partner with Webull, a leading broker in the US, to bring this next generation investment opportunity to traders.”

The official rollout is expected in the coming weeks.

Webull is controlled by Chinese entrepreneur and former Alibaba executive Wang Anquan.