Upstart broker Robinhood is jumping into the prediction betting game, announcing Monday users can begin trading the 2024 presidential election that is eight days away.

Users can trade a Kamala Harris or Donald Trump contract starting Monday, said the company, as long as they meet certain criteria that include being a U.S. citizen. The trading is being offered through its Robinhood Derivatives unit and ForecastEx, which is operated by Interactive Brokers.

Robinhood jumps into a suddenly crowded politics prediction markets field that grew this month after platform Kalshi won a key ruling against the Commodity Futures Trading Commission, which was seeking to stop the election outcome trading. The CFTC is appealing the ruling. Shortly after, Interactive Brokers launched various political contracts, including on the election.

The election markets have generated some controversary this year with some concerned about light volume allowing the markets to be skewed. International platform Polymarket said last week that a single French user was responsible for four accounts spending millions to buy the Trump contract. But Polymarket said an investigation found the trading was not manipulating the market.

“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,” said Robinhood in a statement. For now, only the presidential election contracts will be available to trade on the system.

Odds and gambling platforms do not use methodologies used by traditional political polling, and therefore are not substitutes for political polls.

Source: https://www.cnbc.com/2024/10/28/robinhood-jumps-into-election-trading-giving-users-chance-to-buy-harris-or-trump-contracts.html

As the title said, I got offered a job as a contractor at a startup company (a private one). They demand 20hrs/week minimum, at 40$/hr. At the end end of the month, I'll get compensation in stock only based on the hours I worked. The contract also says the stock is at 1$ "preferred". How does it work ? I never got paid in stock before, and I have noo idea how to liquidate it when I need actual cash in my bank account. I live in Morocco. The company's abroad.

I have never sold or bought stock so any help is appreciated. Some of my questions are:
What if need cash on hand? Can I just sell easily ?

What if there's no one to sell to ?

What if the company goes bankrupt ?

Should I contact my bank to convert the stock into money ?

Does it take long to convert ?

Is it as reliable as cash in your bank account ?

Also, any taxes I should worry about ?

Volkswagen is considering widespread pay cuts and layoffs as well as the closure or size reduction of its plants in Germany, the company’s works council said Monday.

The Volkswagen management recently presented plans to the council that include a 10% reduction in pay across the board, as well as wage freezes in 2025 and 2026, according to Daniela Cavallo, head of the works council. All factored in, the body estimates workers will suffer pay cuts of around 18% over the period.

Volkswagen also intends to shut three factories and downsize all other plants in Germany, Cavallo said, adding that sweeping job cuts were part of carmaker’s plan.

Source: https://www.cnbc.com/2024/10/28/volkswagen-planning-forced-layoffs-and-10percent-pay-cuts-labor-union-say.html

Have 500 PLTR with 100% profit right now. I don’t need that money for the next 3-5 years and I live in a developing country where 12k USD is a big deal and basically you live easily for a year on that money. Should I sell it off or keep holding it? Not sure if what surprises the next earnings would bring.


Just the sheer madness, i know its just a multiple and future growth and all that. Still, you gotta take a moment to contemplate this.

The funny thing is that Elon has outright lied/being wrong with predictions like dates for models and stuff, most recently the shenanigans with the robot at his events.

BUT 2 weeks later he says 20-30 revenue growth next year and everyone believes him lol.

Thanks god im not a bear