Robinhood review 2026

What is Robinhood Prediction Markets?

Robinhood Prediction Markets is the event-contract hub in the Robinhood app, where you buy yes/no contracts on sports, politics, economics and more next to your stocks and crypto. It ranks #2 in our ranking of the best US prediction markets and is our top pick for investors.

Here Robinhood acts as your broker rather than as the exchange. Its futures commission merchant (FCM), Robinhood Derivatives, LLC, is registered with the CFTC and routes your orders to CFTC-regulated exchanges:

• Kalshi, the largest US prediction market.
• ForecastEx, the exchange owned by Interactive Brokers.
• Rothera, Robinhood’s joint venture with Susquehanna International Group, which launched in June 2026 after buying 90% of the MIAXdx exchange. Robinhood says it doesn’t wholly own or control Rothera.
• Crypto.com’s exchange, which also runs OG, for some football contracts since September 8, 2026. Robinhood announced it will take equity stakes in Crypto.com and OG.com.

Robinhood Markets, Inc. (Nasdaq: HOOD) was founded in 2013 by Vlad Tenev and Baiju Bhatt and is based in Menlo Park, California. It opened its Prediction Markets Hub in March 2025, and the business has grown fast: customers traded a record 13.6 billion contracts in the second quarter of 2026, more than 10 times as many as a year earlier, and event contracts brought in $156 million of revenue that quarter, according to Robinhood’s SEC filing. New to event contracts? Read how prediction markets work.

Is Robinhood Prediction Markets legal?

Yes. Robinhood offers event contracts through a CFTC-registered broker, and every contract lists on a CFTC-regulated exchange. As of September 30, 2026, though, sports contracts aren’t available in four states, and Robinhood is in court with several others.

After the Ninth Circuit ruled against Robinhood in its Nevada case on August 28, 2026, Robinhood asked the Supreme Court to review it (No. 26-338); the Court hadn’t decided whether to hear it as of September 30. Robinhood also has pending challenges against New Jersey and Massachusetts officials. Wisconsin and Kentucky have sued it along with other platforms, and Connecticut and Missouri issued orders in September 2026 telling Robinhood and others to stop offering sports contracts to their residents.

Robinhood checks your physical location, so you can’t trade blocked contracts while you’re in a restricted state, even if you live elsewhere. For the wider court split, see our guide to whether prediction markets are legal.

A CFTC-registered broker doesn’t make sports contracts legal everywhere. Trade only what the app offers where you are, and never try to get around a location block.

To qualify, you must be 18 or older, a US resident with an individual brokerage account, a valid Social Security number and an address in the 50 states, Puerto Rico or the US Virgin Islands. You also need approval for a Robinhood Derivatives account, based on your trading experience, investment profile and state; Robinhood says reviews take 1–2 weeks.

What can you trade on Robinhood?

Robinhood covers sports, politics and elections, economics, commodities, metals, crypto, climate, technology, entertainment, esports and even chess. The sports list is the longest, with NFL, college football and basketball, baseball, soccer, tennis, golf, NHL, WNBA, MMA, boxing, F1, NASCAR, cricket and CFL contracts.

• Combos: preset combos, plus custom combos of up to 10 legs (outcomes, spreads, totals and player props) on pro football and basketball. Combos are fill-or-kill: they fill completely or not at all.
• Orders: limit orders only, either immediate-or-cancel or good-til-date (open until 3 a.m. ET the next day). You can also enter a dollar amount, which always executes immediately or cancels.
• Extras: fractional contracts and sub-penny prices in some markets, and position limits of typically 50,000 contracts per side per event.

Contracts are fully collateralized, so there’s no margin, and Robinhood doesn’t list any interest on event-contract positions. On September 29, 2026 it also announced “earnings contracts” on company metrics, listed on Cboe; those are securities rather than CFTC event contracts and need options approval. If you’re coming from sports betting, our guide to prediction markets vs sportsbooks explains how pricing works.

Robinhood fees

Robinhood charges a commission plus an exchange fee on every trade, and together they can reach 2¢ per contract. Since June 1, 2026, the commission has been 10% × price × (1 − price) per contract, or 5% with Robinhood Gold, rounded up to the nearest cent and capped at 1¢ per contract. The exchange fee is up to 1¢ per contract; Kalshi-listed contracts cost 1¢ per contract per side.

Robinhood’s own example: 100 Yes contracts at 90¢ cost $90.00, plus a $0.90 commission and $1.00 in exchange fees, for $91.90 in total. With Gold, the commission halves to $0.45 and the total is $91.45.

The 10¢ and 50¢ rows are our calculations from Robinhood’s published formula. Because of the 1¢ cap, Robinhood Gold ($5 a month or $50 a year) lowers your commission only on contracts priced below about 28¢ or above about 72¢; in between, everyone pays the 1¢ maximum. Compared with trading on Kalshi directly, where takers pay at most 1.75¢ per contract and most maker orders are free, Robinhood usually costs more.

Robinhood doesn’t issue a 1099 for event contracts, only an annual statement, so keep it for reporting any gains; our gambling taxes guide covers the basics. For a side-by-side view of all five platforms, see our prediction market fees guide.

Deposits and withdrawals

You fund prediction markets from your regular Robinhood account, and buying power moves automatically between your brokerage and event-contract accounts. Robinhood doesn’t state a minimum deposit.

Only fully settled cash can be used for event contracts, so an instant deposit may not be available to trade right away. Robinhood suggests funding 1–5 business days before an event.

Sports contracts usually settle within 1–2 business days (elections can take weeks), and winnings become usable or withdrawable after about 1 business day. ACH withdrawals are free, instant withdrawals cost 1.75% (minimum $1, maximum $150), and outgoing wires cost $25.

App and experience

You can trade Robinhood’s prediction markets only in its iOS and Android apps. The website shows event contracts but doesn’t let you trade them, and they aren’t available on Robinhood Legend, its advanced trading platform.

The Robinhood iOS app was rated 4.29 out of 5 from about 4.86 million ratings on Apple’s App Store as of September 30, 2026, a rating that covers the whole app, not just prediction markets. The main advantage is convenience: prediction markets sit in the same app and draw on the same cash as your investments. If you’d rather not see sports markets at all, a “Hide sports prediction markets” setting removes them.

Safety and customer support

Robinhood is a safe choice from a regulatory standpoint. Robinhood Derivatives is a CFTC-registered FCM and a clearing member of the ForecastEx, Kalshi and Rothera clearinghouses, all CFTC-registered, and every contract is fully collateralized. Robinhood Markets is a public company that reports event-contract volumes and revenue in its SEC filings.

The risks are mostly legal. Robinhood’s filings warn that enforcement actions or litigation could prevent it from offering event contracts, and class actions over its prediction markets have been consolidated in federal court in California.

For responsible trading, Robinhood offers the sports-hiding setting, account-level self-exclusion from event contracts and a link to the National Council on Problem Gambling helpline; our responsible gambling guide lists more tools. Support runs through Robinhood’s help center, which directs you to robinhood.com/contact, including for self-exclusion requests; which channels and hours cover event-contract questions wasn’t confirmed for this review.

Who is Robinhood best for?

• Existing Robinhood customers who want event contracts without opening a new account.
• Investors who like keeping stocks, crypto and prediction markets in one place.
• Sports fans who want custom football and basketball combos of up to 10 legs, outside the four restricted states.
• Gold members, who pay half the commission rate on low- and high-priced contracts.

Our verdict

Robinhood is the easiest way into prediction markets if you already invest there. You get CFTC-regulated contracts from several exchanges, huge volume and a broad menu of sports, politics and economics markets, all in one familiar app.

The trade-offs are cost and flexibility. Robinhood’s commission comes on top of exchange fees, trading is app-only, positions don’t earn interest, and sports are off-limits in Maryland, Nevada, Michigan and Washington. If those matter to you, compare the best Robinhood alternatives or go back to our full prediction market rankings.