4.2 / 5
ATS Score
4.2 / 5
ATS Score
Updated August 31, 2026
Editorial Review By: Simon CrippsSports Betting Analyst
Robinhood is one of the easiest ways to get started with prediction markets, especially for existing users. It combines a polished app with a growing selection of sports, politics, economics and entertainment markets. The main drawbacks are mobile-only trading and varying liquidity, but its accessibility makes Robinhood a strong option for casual prediction market traders.
Choose a market
Pick an event or prediction market you want to trade.
Review the contract
Check the rules, possible outcomes, and settlement terms.
Choose your position
Select the outcome you think will happen and enter your trade.
Review the price
Check the contract price, potential payout, and amount at risk.
Sell or hold
Sell your position before settlement, or hold until the event is resolved.
Robinhood Prediction Markets is available to eligible users across most of the United States, although availability can vary by state and market type. Maryland currently has restrictions on event-contract trading, while Nevada residents cannot open new sports event contracts. Individual contracts may also be unavailable in certain jurisdictions, so users should check the Robinhood app for current availability.
Robinhood has quickly become one of the biggest gateways into prediction markets in the United States.
Instead of opening a separate account with a specialist prediction market, eligible Robinhood users can trade event contracts covering sports, politics, economics, weather, entertainment and other real-world events directly through the Robinhood app.
That convenience is Robinhood’s biggest advantage.
Our verdict: Robinhood Prediction Markets is one of the easiest ways for existing Robinhood customers to start trading event contracts. The app is polished, the range of markets has expanded significantly, and Robinhood now routes contracts through multiple CFTC-regulated exchanges. The biggest drawbacks are that prediction-market trading remains mobile-only, fees need to be factored into every trade, and liquidity can vary significantly between markets.
New to this type of trading? Start with our prediction markets guide for a broader explanation of event contracts, pricing and how prediction markets differ from sportsbooks.
Best for: Existing Robinhood users and prediction-market beginners
Not ideal for: Desktop traders and users who want advanced prediction-market tools
Contract type: Yes/No event contracts
Contract prices: Generally $0.01 to $0.99
Maximum standard payout: $1 per winning contract
Main markets: Sports, politics, economics, weather, commodities, entertainment and other events
Trading platform: Robinhood mobile app
Web access: Markets can be viewed on web, but event contracts cannot currently be traded there
Robinhood Legend: Event-contract trading is not currently supported
Regulatory structure: Robinhood Derivatives is a CFTC-registered Futures Commission Merchant and NFA member
Underlying exchanges: KalshiEX, ForecastEX and Rothera Exchange and Clearing
Robinhood currently limits prediction-market trading to its mobile app. Markets can be viewed through the regular Robinhood website, while event contracts are not available for trading through Robinhood Legend.
Robinhood has one major advantage over most prediction markets: a large existing customer base already familiar with its app.
There is no crypto wallet to understand, no specialist prediction-market interface to learn and no need to treat the product as a completely separate ecosystem. Prediction markets sit alongside Robinhood's other products inside the same app.
The product has also expanded substantially since Robinhood launched its dedicated Prediction Markets Hub in March 2025. By 2026, Robinhood offered limit orders, dollar-based trading, live sports markets, player contracts and multi-leg combinations, while expanding beyond its original relationship with Kalshi to route contracts through ForecastEX and Rothera.
Robinhood reported a record 13.6 billion event contracts traded during Q2 2026, more than ten times its Q2 2025 volume. Robinhood has also described prediction markets as its fastest-growing product line by revenue.
However, Robinhood is not automatically the best prediction market for every type of trader. A specialist platform such as Kalshi may offer a more trading-focused experience, while other competitors can have stronger liquidity or specialization in particular market categories.
Robinhood's strongest selling point remains convenience.
Robinhood makes the most sense for someone who already uses Robinhood and wants to add prediction markets without joining another specialist platform.
The learning curve is relatively low. A contract might ask whether a team will win a game, whether an economic number will exceed a certain level or whether a political event will happen by a specific date.
You choose an outcome, review the price and decide whether the probability implied by that price looks attractive.
Robinhood is particularly appealing for:
Robinhood is less compelling if prediction markets are going to be your primary trading activity.
The biggest limitation is desktop access. You can view prediction markets through Robinhood's website, but Robinhood currently requires the mobile app to actually trade them. Prediction-market positions are also excluded from Robinhood Legend.
That makes Robinhood a less natural fit for sophisticated traders who would otherwise be attracted to the company's advanced desktop platform.
You may prefer another platform if:
For this review, we looked at Robinhood as a prediction-market product rather than reviewing Robinhood's stock, options, crypto or traditional brokerage services.
We checked:
We also reviewed Robinhood's current Help Center documentation and its 2026 investor disclosures because the prediction-market product has changed significantly over the past year.
Robinhood Prediction Markets allows eligible U.S. users to trade event contracts tied to future outcomes.
These contracts are structured around defined questions.
For example:
Will Team A win?
You might be able to buy a Yes contract for $0.60.
If the contract ultimately resolves Yes, it pays $1.
If it resolves No, the contract is worth $0.
A $0.60 price therefore broadly suggests the market is pricing the outcome at roughly a 60% probability.
Prices change as participants buy and sell contracts and new information reaches the market. Users can also sell eligible positions before settlement rather than waiting for the final result.
This is one reason we describe Robinhood as a prediction market rather than simply another sportsbook.
You are trading contracts in a market rather than placing a conventional fixed-odds wager against a bookmaker.
This distinction is important.
When you trade a prediction market through Robinhood, Robinhood is not necessarily creating the market or determining the outcome.
Event contracts are offered through Robinhood Derivatives LLC, which operates as a registered Futures Commission Merchant. Robinhood routes event contracts through partner exchanges.
Robinhood currently identifies:
as exchanges through which its event contracts can be offered.
Robinhood Derivatives itself is a registered Futures Commission Merchant with the Commodity Futures Trading Commission and a member of the National Futures Association.
This also means you should not assume a price displayed directly on Kalshi is automatically the exact price available through Robinhood.
They may ultimately involve the same underlying exchange, but the product, order routing, execution and customer interface are not identical.
Robinhood's market selection has expanded considerably since the Prediction Markets Hub launched.
Current categories include areas such as:
Robinhood's Help Center specifically identifies sports, politics, weather, commodities and entertainment among its available event-contract categories.
Sports have become an especially important part of the product.
Robinhood now supports markets that can include game outcomes, spreads, totals, player-level contracts and multi-leg combinations depending on the event.
Custom combinations can contain up to 10 supported outcomes and trade as one contract.
This makes the sports section increasingly similar to the selection users may recognize from sportsbooks, even though the underlying trading structure is different.
Robinhood supports several ways to enter an event-contract position.
Users can place immediate-or-cancel orders or Good-til-date limit orders. Robinhood also supports dollar-based opening orders on eligible contracts.
A basic trade works like this:
Orders still require a counterparty.
Robinhood notes that orders can be partially filled, canceled or remain unfilled when there is insufficient liquidity at the requested price.
For a more detailed walkthrough, see our Robinhood Prediction Markets: How to Trade guide.
Robinhood is not a completely fee-free prediction market.
As of June 2026, Robinhood uses a probability-weighted commission model for event contracts.
Robinhood Gold customers receive a lower commission calculation than non-Gold users, while the underlying exchange may also charge a separate fee.
Robinhood caps its own commission at $0.01 per contract, and exchange fees can also be up to $0.01 per contract depending on the venue. Fees can apply when opening and closing positions.
The important point for the main review is simple:
Look at your total trade cost, not just the displayed contract price.
This becomes particularly important for active traders and users entering positions where the potential profit per contract is relatively small.
We break down the exact formula, Gold vs. non-Gold pricing and worked trade examples in our Robinhood Prediction Markets Fees guide.
A displayed market price does not guarantee that you can trade any amount you want at that price.
Robinhood orders need to find a counterparty.
That means:
Robinhood recommends checking liquidity when orders repeatedly fail or cancel.
Robinhood's enormous overall event-contract volume is a positive sign, but platform-wide volume is not the same thing as liquidity in the individual contract you want to trade.
Always judge the actual market in front of you.
Our Robinhood Prediction Market Liquidity guide goes deeper into spreads, execution, market depth and slippage.
Robinhood uses separate event-contract buying power through Robinhood Derivatives.
The system automatically moves eligible buying power between accounts rather than requiring users to manually transfer money into a separate prediction-market wallet.
One thing to watch is deposit timing.
Robinhood says Instant Deposits are not available for event contracts, meaning users need eligible settled cash before those funds can be used for event-contract trading. Standard bank-transfer processing times can also affect when deposited money becomes available.
After a contract settles, winning proceeds are generally moved into event-contract buying power by the next business day. Funds are generally available for withdrawal within one business day of settlement, although the withdrawal itself may require additional processing time.
This is simultaneously one of Robinhood's biggest strengths and its most obvious weakness.
The Robinhood app is a natural environment for prediction markets. Markets are integrated alongside other financial products, prices are easy to understand and users do not need to learn an entirely new interface.
But the experience is heavily dependent on mobile.
As of this review:
For casual users, that may not matter.
For an active trader sitting in front of several monitors, it is a significant limitation.
Robinhood Prediction Markets operates through a federally regulated derivatives structure, although the legal treatment of sports event contracts remains contested at the state level.
Robinhood Derivatives LLC is a registered Futures Commission Merchant with the CFTC and a member of the National Futures Association. Its event contracts are offered through CFTC-regulated exchange partners.
However, federal regulation does not mean every contract is available everywhere.
Robinhood currently lists state-level restrictions affecting jurisdictions including Maryland and Nevada, while individual contract availability can also differ by location.
The broader question of whether states can separately regulate sports event contracts remains unsettled.
On August 28, 2026, the U.S. Court of Appeals for the Ninth Circuit ruled against Kalshi in its Nevada dispute. In a separate decision issued the same day, the court also affirmed the denial of Robinhood Derivatives' request to prevent Nevada from enforcing its gaming laws against Robinhood.
Other federal courts have reached different conclusions in related prediction-market disputes, leaving an evolving legal landscape around state and federal authority.
That legal battle deserves its own page rather than overwhelming this review.
For the latest state restrictions and regulatory developments, see our Is Robinhood Prediction Markets Legal? guide.
Robinhood does not decide whether your contract wins.
The underlying exchange determines the outcome using the settlement rules and official data source specified for the contract.
Robinhood says it cannot override an exchange's settlement determination even if another third-party source shows a different result.
That makes reading the contract rules extremely important.
Before trading, check:
Settlement timing depends on the event and the exchange's verification process. Sports outcomes are generally confirmed relatively quickly, while events such as elections can require substantially more time before an official settlement is possible.
Robinhood says most sports payouts are generally available within one to two business days, while proceeds are typically available for withdrawal within one business day after settlement.
Robinhood offers 24/7 customer support through chat.
Phone support is handled through a callback system. Robinhood says eligible investing-related phone inquiries are generally supported from 7 AM to 9 PM ET Monday through Friday, excluding holidays. Not every inquiry qualifies for phone support.
For prediction-market users, the Help Center is also considerably more detailed than it was when the product first launched, with separate documentation covering trading, settlement, funding, fees, restrictions, execution problems and contract rules.
That is a positive development given how different event-contract trading can be from conventional stock trading.
Robinhood now competes with several very different prediction-market products.
Platform | Best For | Main Strength | Main Drawback |
|---|---|---|---|
Robinhood | Existing Robinhood users | Convenience and mobile UX | No desktop trading |
Kalshi | Dedicated prediction-market traders | Specialist event-contract exchange | More trading-focused learning curve |
Polymarket | Broad prediction-market users | Market variety and active markets | More complex product/regulatory structure |
Novig | Sports-focused users | Built specifically around sports | Newer and less established |
Kalshi is probably the most natural direct comparison because Robinhood itself routes some event contracts to KalshiEX.
The difference is that Kalshi is the exchange itself, while Robinhood acts as the customer-facing intermediary.
Polymarket is another major alternative for users interested in broad event-market coverage.
Novig is more specialized around sports, while PredictIt remains primarily relevant for political prediction markets.
Robinhood's differentiator is not necessarily that it beats every specialist platform at its own game.
It is that prediction markets are another product inside an app users may already use every day.
Yes. Eligible Robinhood users can trade event contracts covering sports, politics, economics, weather, entertainment and other events through Robinhood's Prediction Markets Hub.
Users buy Yes or No event contracts priced based on market-implied probability. Standard winning contracts settle at $1 and losing contracts settle at $0. Eligible positions can also be sold before settlement if sufficient liquidity is available.
Robinhood Derivatives is a CFTC-registered Futures Commission Merchant and NFA member, with event contracts routed through regulated exchanges including KalshiEX, ForecastEX and Rothera. However, state and contract-level restrictions can apply, particularly around sports markets.
Robinhood uses a probability-weighted commission model. Robinhood Gold customers receive a lower commission calculation than non-Gold customers, while the underlying exchange may also charge a separate fee. See our dedicated Robinhood fees guide for current calculations and examples.
You can view prediction markets through Robinhood's website, but Robinhood currently requires the mobile app to place event-contract trades. Prediction markets are also not currently supported through Robinhood Legend.
Yes, eligible event-contract positions can generally be closed before settlement. However, you need another market participant willing to trade at your price, so liquidity matters.
No. Prices are generated through market activity on the underlying exchange. Robinhood acts as the customer-facing trading platform and Futures Commission Merchant rather than simply setting sportsbook-style odds itself.
Robinhood currently says event contracts can be offered through KalshiEX, ForecastEX and Rothera Exchange and Clearing.
Robinhood is arguably easier for someone who already uses the app, while Kalshi is a dedicated prediction-market exchange and offers a more specialist trading environment. The better option depends on whether convenience or direct prediction-market functionality matters more to you.