Moomoo grabs U.S. prediction market license, targets retail traders
Moomoo, the Hong Kong-based retail brokerage subsidiary of Futu Holdings, secured a U.S. prediction market compliance license May 11 and will offer event contract trading to American retail users through its U.S. brokerage arm Moomoo Financial Inc. The license makes Moomoo one of the first online brokers approved for this product category, joining incumbent operators like Kalshi in the regulated U.S. event-contracts space. Event contracts are financial derivatives that let users trade on whether specific outcomes will or will not occur. Moomoo built a substantial retail trading user base in Asia and has been expanding its U.S. footprint; the launch timing targets mobile-first brokerage distribution of prediction markets through mainstream trading apps.
Puts Kalshi head-to-head against a well-capitalized retail brokerage with an existing mobile app and cross-border user base, threatening Kalshi's first-mover advantage among casual traders before Moomoo's platform goes live.