Robinhood prediction markets: how event contracts work in the Robinhood app (2026)
Robinhood lets you trade event contracts on sports, the economy and politics next to your stocks. Where your orders go (Kalshi, its own Rothera exchange), what it costs, and when to use Kalshi directly.
In this article
Robinhood prediction markets let US customers trade event contracts, yes-or-no contracts that pay $1 if something happens, inside the same app they use for stocks and crypto. Robinhood is not the counterparty: it routes your order to a regulated exchange, either a partner such as Kalshi or, since June 2026, Rothera, an exchange Robinhood co-owns.
Features, venues and pricing as of October 2026. Robinhood's own disclosures and fee pages are the final word.
Robinhood prediction markets at a glance
| What it is | Event contracts in the Robinhood app |
| Started | 2024 election contracts, then a full prediction markets hub in March 2025 |
| Where trades happen | Kalshi, Rothera (Robinhood's joint venture with Susquehanna, live since June 2026) and other partner exchanges |
| Cost | Robinhood's commission, up to 1¢ per contract, plus the exchange's fee |
| Markets | Sports, economics, politics, culture, crypto |
| Who can use it | US customers 18+ with an approved account |
How it works
You open the prediction markets section, pick a market (say, whether the Fed holds rates in October) and buy "Yes" or "No" at the current price. A contract at 87¢ pays $1 if you are right. You can sell before the market resolves. Winnings settle to your Robinhood account.
Under the hood, Robinhood offers these through its futures and derivatives business, so you may need to enable that account type and accept extra disclosures first.
Where your Robinhood order goes
- Kalshi was Robinhood's first and biggest venue. Many Robinhood contracts are Kalshi markets, and a large share of Robinhood's prediction volume still goes there.
- Rothera, a CFTC-registered exchange Robinhood owns jointly with the trading firm Susquehanna, began accepting contracts on 4 June 2026 and quickly became one of the largest venues by volume.
- Other partners, such as Crypto.com's spin-off OG, added in September 2026.
This matters because the price depends on the venue. A contract on Robinhood can be a cent or two away from the same question on Kalshi's own app, or on Polymarket. Compare on our live markets page.
What it costs
Robinhood charges a commission that depends on the contract price and order size, capped at 1¢ per contract, on top of the exchange's own fee. Kalshi's taker fee peaks at 1.75¢ per contract at 50¢, so at mid prices the combined cost can approach 3¢ per contract. The exchange fee formula: Polymarket fees vs Kalshi fees.
How big is it?
Prediction markets became one of Robinhood's fastest-growing products: it reported $156 million of prediction market revenue in the second quarter of 2026, from billions of contracts traded. That growth is why Robinhood built its own exchange instead of only routing to partners. For investors, Robinhood is one of the few listed companies with direct exposure: Kalshi stock and Polymarket stock.
Robinhood vs Kalshi directly
| Robinhood | Kalshi app | |
|---|---|---|
| Account | Your existing Robinhood account | Separate Kalshi account |
| Markets | A curated selection | Kalshi's full menu, thousands of markets |
| Cost | Exchange fee + Robinhood commission | Exchange fee only |
| Tools | Simple ticket | Order book, limit orders, combos, API |
| Best for | Occasional trades next to your portfolio | Active traders who care about price and depth |
If you trade often, the commission and the narrower menu add up, and Kalshi's own app or API gives you more control: how does Kalshi work.
Is Robinhood prediction markets legal?
Yes, through CFTC-regulated exchanges. Sports contracts are not offered in every state, and states continue to challenge sports event contracts in court: is Kalshi legal in your state.
Robinhood prediction markets: frequently asked questions
Is Robinhood a prediction market?
Robinhood is a broker that gives you access to prediction markets. Since 2026 it also co-owns an exchange, Rothera.
Does Robinhood use Kalshi?
Yes. Kalshi has been Robinhood's main partner exchange, alongside Rothera and others.
What are Robinhood's prediction market fees?
A commission of up to 1¢ per contract, plus the exchange fee.
Can I trade sports on Robinhood prediction markets?
In many states, yes. Availability varies by state.
