On Thursday, Jan. 30, Interactive Brokers listed election contracts on the 2028 U.S. elections. The markets include the party of the presidential winner, Senate control, and which candidate will be each major party’s nominee.
ForecastEx provides Interactive Brokers’ political markets, giving customers the ability to trade the election alongside other financial instruments. Customers can also trade ForecastEx contracts on government economic decisions, including whether Congress will raise the debt ceiling or initiate a government shutdown.

Interactive Brokers is geared toward institutional and professional traders. Its forecast contracts were the first to pay interest on contracts, giving traders a reason to hold derivatives that are often traded quickly instead.
Less than a week after listing its election contracts, another brokerage announced that it would list prediction markets.
Brokerages embrace prediction markets
On Monday, prediction market exchange Kalshi announced that it would list its Super Bowl contracts on Robinhood, expanding Kalshi’s reach to Robhinhood’s 25 million customers. Traders can buy and sell contracts on which team will win Sunday’s Super Bowl, even in states where sports betting is illegal.
Kalshi 🤝 Robinhood
— Tarek Mansour (@mansourtarek_) February 3, 2025
Today is a big day: Kalshi launches its first broker, Robinhood.
25 million more people now have exposure to our prediction markets. pic.twitter.com/GW2HzU4tJr
Since 2018, states have been able to decide whether they would regulate sports betting and how they would do it. Sporttrade, the first company to offer prediction markets on sports, operates under state-by-state gambling regulations.
In December 2024, CFTC-regulated finance companies expanded into sports. Crypto.com launched its sports contracts in December, and Kalshi followed in late January.
However, ForecastEx has remained focused on long-term markets related to government actions, climate indicators, and the economy. Kalshi also offers 2028 election markets, but most of its markets include events tied to the news cycle.
For example, Kalshi has offered markets on:
- Who will fill Trump’s Cabinet positions
- What the top song on Spotify will be each day
- Whether the United States will announce the existence of aliens
Even though ForecastEx and Kalshi target different traders, both have brought prediction markets to large brokerages and large audiences.