Robinhood prediction markets let you trade event contracts on sports, politics, economics, crypto and more from the same app as your stocks. Robinhood isn’t an exchange itself: it acts as a broker and sends your orders to regulated exchanges, including Kalshi and, since 2026, an exchange it controls. This profile explains how it works, what it costs and how it compares, from Robinhood’s own newsroom and event pages and recent reporting, checked October 2026.
How Robinhood prediction markets work
- The broker. Robinhood Derivatives, LLC, Robinhood’s futures arm, handles event contracts. You need a Robinhood brokerage account and a separate application for Robinhood Derivatives.
- The exchanges. Robinhood’s event pages list contracts offered through KalshiEX (Kalshi), ForecastEx and Rothera Exchange and Clearing, with some football contracts routed to Crypto.com’s exchange.
- Rothera. Robinhood announced a joint venture with the trading firm Susquehanna in November 2025 to run its own exchange, and the venture completed its purchase of the exchange and clearing house MIAXdx in January 2026.
- Money. Contracts are bought with settled cash in your Robinhood account, in dollars.
What you can trade
Robinhood lists events across football and other sports, politics including the 2026 midterms, economics, crypto and finance, weather and culture. The range is a selection rather than everything an exchange lists: Kalshi alone carries far more events than any one broker app shows.
Fees
Robinhood charges its own commission per contract, on top of the fee charged by the exchange the order goes to. That makes the same trade a little more expensive than placing it on Kalshi directly. Robinhood’s commission changed during 2026; since June 1 it’s tiered by price and order size and capped at $0.01 per contract. Details and a worked example in Robinhood prediction market fees. Kalshi’s own fees are explained in Kalshi fees.
Where it’s available
Robinhood prediction markets are for US residents aged 18 or over. As with every prediction market app, sports contracts face state challenges: Robinhood’s help centre says Maryland and Nevada residents can’t trade sports contracts, and Michigan residents haven’t been able to open new ones since September 9, 2026 (checked October 28, 2026). Non-sports markets are much less affected. Check the app for what’s open in your state.
Robinhood vs going direct
| Robinhood | Kalshi direct | |
|---|---|---|
| Account | Your existing Robinhood account plus a derivatives application | A new Kalshi account |
| Market range | A selection across several exchanges | Kalshi’s full list |
| Cost | Exchange fee plus Robinhood commission | Kalshi’s fee only; resting orders often free |
| Extras | Everything in one app | Combos, full order book, API, interest on cash |
Full comparison: Kalshi vs Robinhood.
What’s trading on Kalshi now
Many of Robinhood’s contracts come from Kalshi. These are Kalshi’s most traded markets right now:
Kalshi: most traded
Latest price for “Yes”, shown as an implied chance. Polymarket volume in USD, Kalshi in contracts. Updated just now.
Pros and cons
- Pros: no new account if you already use Robinhood; familiar app; contracts from regulated US exchanges.
- Cons: extra commission; narrower range than an exchange; US only; sports availability varies by state.
FAQ
Is Robinhood a prediction market?
Is Robinhood prediction markets legal?
How old do you have to be?
Related: Kalshi vs Robinhood · Kalshi alternatives · Best prediction market apps