Greg Nelson captured the action in the 2024 NCAA Men's Basketball Tournament championship game between the University of Connecticut and Purdue University on April 8, 2024.

Robinhood customers can soon engage in trading related to the outcome of "March Madness." The trading platform, Robinhood, has introduced a prediction markets hub in its app.

Robinhood recently suspended trading on the Pro Football Championship in February at the CFTC's request.

Robinhood Markets (HOOD) is launching a prediction markets hub within its app, enabling customers to trade on various significant events. The hub will initially be accessible in the U.S. through the KalshiEX exchange, regulated by the CFTC. Customers can trade contracts on different events, such as the Federal Reserve's target fed funds rate in May and the upcoming College Basketball Tournaments.

This is the second time Robinhood is venturing into sports events contracts. In February, it permitted users to buy event contracts for the "Pro Football Championship" but had to suspend trading following the CFTC's request. Robinhood expressed its intention to collaborate with the CFTC to foster innovation in futures, derivatives, and crypto markets.

Eligible customers will have access to trading contracts in the coming days. In the past, Robinhood also introduced event contracts tied to the U.S. presidential election.

Robinhood's shares saw a 9% increase in late trading on Monday, reflecting a 135% surge over the last year.