Robinhood lets eligible US customers trade prediction markets inside the same app they use for stocks. You buy event contracts that pay $1 if an outcome happens and $0 if it doesn't — on elections, Fed decisions, sports and crypto prices.
How Robinhood prediction markets work
- Where: a prediction markets section in the Robinhood app.
- What: YES/NO event contracts priced in cents; 35¢ ≈ a 35% chance.
- Who supplies them: regulated US exchanges, with Kalshi as a key provider. Robinhood has also backed its own exchange project for future contracts.
- Account: your Robinhood account, in US dollars.
Example. You buy 50 YES contracts at 60¢ on a Fed rate cut ($30). If the Fed cuts, you receive $50; if not, you lose $30. You can sell earlier at the market price.
Costs
The order screen shows the total cost per contract, which can include a Robinhood commission and the exchange's fee. Small per-contract costs add up on cheap contracts: on a 5¢ contract, a 1¢ total cost is 20% of your stake. Check the total before confirming.
Eligibility
- US residents with a Robinhood account.
- 18 or older.
- Some states may be excluded, particularly for sports contracts, because of state-level disputes — see Polymarket legal states for background on the legal fight.
Pros and cons
Pros
- Convenient if you already use Robinhood.
- Contracts come from CFTC-regulated venues.
- Familiar interface and dollar funding.
Cons
- Fewer markets than dedicated exchanges.
- Costs per contract matter on cheap contracts.
- US only.
Robinhood vs dedicated exchanges
| Robinhood | Kalshi | Polymarket US | |
|---|---|---|---|
| App | Robinhood | Kalshi | Polymarket US |
| Contracts | From partner exchanges | Own exchange | Own exchange (QCX LLC) |
| Range of markets | Curated | Broad | Growing |
See Polymarket vs Robinhood and best prediction market apps.
Verdict
A convenient way for existing Robinhood users to try prediction markets. If you trade often or want more markets, compare costs and liquidity with dedicated exchanges.
Official sources: Robinhood, Kalshi.
Related guides
Next step
In the United States, the regulated route is the Polymarket US app. Read our guides on signing up and depositing to get started, start small and only use money you can afford to lose.