Robinhood
Consumer brokerage offering embedded event contracts. Fastest-growing retail prediction market platform in the US.
- ✓ US users who already have a Robinhood account
- ✓ Anyone who wants sports, political, and economic markets in one familiar app
- ✓ Mobile-first traders who want a clean, simple interface
- ✗ Cost-sensitive traders: $0.02/contract adds up on large positions
- ✗ Users in states where sports contracts are restricted (e.g. New Jersey)
- ✗ Traders who need advanced API access or prediction market tools
About this operator
Robinhood launched a dedicated prediction markets hub in March 2025 and became the fastest-growing retail entry point to event-contract trading in the US: over 12 billion contracts were traded on the platform in 2025, and more than one million users actively trade prediction markets. Contracts come from two sources: political, economic, and financial markets via ForecastEx, and sports event contracts (including NFL parlay and prop bets added December 2025) via Kalshi. In January 2026 Robinhood acquired MIAXdx, a CFTC-licensed exchange, to power its own dedicated prediction market infrastructure, expect Robinhood to operate its own exchange alongside Kalshi and ForecastEx from mid-2026. Sports event contracts are available in 35+ US states including California, Texas, and Florida. Fees are $0.01 Robinhood commission plus $0.01 exchange fee per contract (~$0.02/contract total), not commission-free.
Quick facts
| Founded | 2013 |
| Headquarters | Menlo Park, California, USA |
| Type | Broker (Embedded Contracts) |
| Settlement | USD |
| Fees | $0.01/contract + $0.01 exchange fee (~$0.02/contract) |
| Min deposit | $0 |
| KYC | Full KYC (US only) |
| Volume | 26M+ users · 1M+ active PM traders |
| ✓ Data verified April 2026 | |
Robinhood — Scorecard
Editorial ratings based on publicly available data. Your experience may vary.
Robinhood — strengths and weaknesses
- ✓ Fastest retail PM growth, 12B+ contracts in 2025
- ✓ Simple mobile UX, no separate account needed
- ✓ Sports + political + economic contracts in 35+ states
- ✗ $0.02/contract fee: adds up significantly on large positions
- ✗ Sports contracts unavailable in New Jersey and some other states
- ✗ No advanced prediction market tools or API access
- ✗ No standalone prediction market view (buried within the broader brokerage app)
What does it actually cost to trade on Robinhood?
$0.02 per contract ($0.01 Robinhood + $0.01 exchange), win or lose. A $500 position at 50¢/contract (1,000 contracts) = $20 in fees. A $1,000 position (2,000 contracts) = $40. Fees are charged at the time of the trade, not from winnings.
How to start trading on Robinhood
- 1 Download the Robinhood app (iOS or Android) and create an account
- 2 Verify your identity: SSN, date of birth, and address
- 3 Fund your account via bank transfer (instant deposit available up to a limit)
- 4 Tap "Event Contracts" in the app to browse sports, political, and economic predictions
Frequently asked questions — Robinhood
Does Robinhood charge fees for event contracts? +
Yes. Robinhood charges $0.01 per contract as its own commission, plus a $0.01 exchange fee per contract from the underlying exchange (Kalshi or ForecastEx), totalling approximately $0.02 per contract. On a typical $1,000 position at 50¢ per contract (2,000 contracts) this amounts to about $40 in fees. This is higher than it sounds for smaller trades.
What event contracts are available on Robinhood? +
Robinhood offers two categories: sports event contracts (powered by Kalshi) including NFL, NBA, and MLB outcomes plus prop bets, and political and economic event contracts (powered by ForecastEx) including election outcomes, Fed rate decisions, and macroeconomic indicators. Sports contracts were expanded with NFL parlay and prop bets in December 2025.
Are Robinhood sports event contracts available in all states? +
Robinhood sports event contracts are available in over 35 US states as of early 2026, including California, Texas, and Florida. New Jersey is a notable exception where sports event contracts are not available through Robinhood. Political and economic event contracts (ForecastEx) are available broadly across the US. Always check the Robinhood app for your specific state.
Do I need a crypto wallet to use Robinhood event contracts? +
No. Robinhood event contracts settle in USD directly into your Robinhood brokerage account. There is no crypto wallet or USDC involved. This makes it the most accessible prediction market entry point for retail users who already have a Robinhood account; there is nothing extra to set up.
Will Robinhood have its own prediction market exchange? +
Yes. Robinhood acquired MIAXdx, a CFTC-licensed exchange, in January 2026. MIAXdx (also known as Rothera) is expected to launch as Robinhood's own dedicated prediction market infrastructure by mid-2026. This means Robinhood will eventually operate its own exchange alongside its existing Kalshi and ForecastEx integrations.
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