Event Contracts at Robinhood
Main Points:
• Robinhood now offers trading in event contracts through Yes and No outcomes.
• A separate derivatives account is required to trade event contracts at Robinhood.
• Event contracts are not commission-free at Robinhood.
Robinhood customers can now trade event contracts in the prediction markets. Here’s the rundown:
Prediction Markets at Robinhood
Robinhood has introduced yet another asset class: event contracts. Clients can now speculate on Yes and No outcomes through a broad selection of event contracts. Here are some possible categories:
- Baseball
- College football
- Crypto
- Gold
- Economics
- Pro basketball
- Auto racing
- Technology
- Finance
- Soccer
- Culture
Within each available category, many different questions can appear. Each question is the event contract; traders buy and sell yes and no answers to these questions. Here are a few examples of questions we found during our research:
• How many rate cuts will there be in 2026? (3, 2, or 1)
• Who will win the Hollywood Casino 400? (Denny Hamlin, Kyle Larson, or Christopher Bell)
• How high will Bitcoin go in 2026? ($125k, $130k, $140k)
• Who will win the October 4 game between Michigan and Wisconsin? (Michigan or Wisconsin)
Each possible answer has two tradable outcomes: yes and no. The more likely an outcome appears to be, the higher its price usually will be. A yes or no answer will cost between 1¢ and 99¢. A correct answer is worth exactly $1.00 at expiration, and a wrong answer is worth $0.00.
Yes and no outcomes are tradable. After purchase and before expiration, yes and no answers can be sold at market prices, which may be higher or lower than their purchase amounts. During our examination on Robinhood’s app, we were able to trade yes and no outcomes on the Minnesota-Pittsburgh football game during the game. Prices updated in real time.
Winning outcomes on the Robinhood platform typically receive payouts shortly after the event outcome is determined.
Eligibility
Not everyone is eligible for the prediction markets at Robinhood. Right away, residents of Maryland cannot trade event contracts. Residents of other states may or may not be eligible for specific questions. During our investigation, some questions had trading prohibitions. For example, a question about pro baseball had a section on Trading Prohibitions, which excluded former and current players, coaches, and staff of Major League Baseball and their family members from buying or selling yes or no answers.
Opening an Account
Traders who are eligible must open a separate derivatives brokerage account, which will be held apart from a linked securities account. This derivatives account is offered through Robinhood Derivatives, LLC. Yes and no outcomes are traded on prediction markets powered by Kalshi EX LLC and Forecast EX LLC.
To open the needed derivatives account, you first must have a securities account open. Once that step is finished, go to the dashboard on the mobile app and scroll down until you see the section on prediction markets. Tap on a question and select a yes or no outcome as if you were planning to buy one. Before you reach the order ticket, the app will show you the application for the account. Because you already have a securities account, most information will already be filled in; just go through the pages and open the account.
And here’s an important caveat: it is not possible to open a derivatives account through Robinhood’s website.
Robinhood Promotion
Finding Event Contracts on Robinhood
It’s really easy to find event contracts and their tradable outcomes on the Robinhood app. After logging in, you’ll automatically be on the dashboard. Scroll down until you see the banner for prediction markets; tap on this button and you’ll get a list of event contracts.
At the top of the prediction-markets page, there is a row of categories. You can scroll to the right and tap on the category you’re interested in. After getting a list of contracts, tap on a question to pull up the possible answers and their yes and no prices. At the top of the page, there is a graph of the yes prices to the answers.
How to Buy Event Contract on Robinhood
Order submission for a yes or no outcome is really easy on the app. Just tap on the answer you want and select the yes or no outcome at the bottom of the screen. The order ticket will appear with a limit order. For contract-based orders, Robinhood supports either immediate or cancel or good-til-date. Dollar-based orders use immediate or cancel.
Fill in the number of outcomes you want to purchase (each one is worth exactly $1.00 at expiration if successful) and submit the order.
To close a current position, simply make the opposite trade. For example, if you hold 40 yes outcomes that you want to liquidate, you should buy 40 no outcomes of the same question.
Robinhood Event Contract Pricing
Each yes or no outcome traded at Robinhood has a 1¢ commission. There can also be a 1¢ exchange fee on some event contracts.
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Updated on 3/28/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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