The stock-trading app Robinhood will allow customers to bet on the outcome of November’s election.

The so-called presidential election event contracts are launching with a small group of customers Monday, allowing them to trade based on who they think will win the 2024 presidential election.

An event contract is a forecast contract, the value of which depends on a specific event happening by a specific time. They are based on “yes” or “no” answers to a question about the event. 

For the Robinhood presidential election contracts, the questions are: "Will Kamala Harris win the U.S. presidential election in 2024?" and "Will Donald Trump win the U.S. presidential election in 2024?" Customers can only own “yes” contracts for one candidate.

“We’ve heard from our customers that having access to the market in real time is essential,” the company said in a statement on its website announcing the new presidential event contracts. “We believe event contracts give people a tool to engage in real-time decision-making, unlocking a new asset class that democratizes access to events as they unfold.”

Those who trade in the presidential election contracts will receive $1 for every contract they own if their candidate is certified in January and nothing if they are not. Robinhood charges one cent per contract. 

The Robinhood announcement comes as the presidential campaign enters its final week, with Harris and Trump neck and neck in the polls.

Last month, a federal appeals court allowed the prediction exchange platform Kalshi to offer Congressional Control Contracts, enabling buyers to bet on which political party will control the Senate and House following next month’s election.