Event Contracts at Robinhood
Main Points:
• Robinhood now offers trading in event contracts through Yes and No outcomes.
• An approved Robinhood Derivatives account is required to trade event contracts.
• Event contracts are not commission-free at Robinhood.
Robinhood customers can now trade event contracts in prediction markets. Here’s the rundown:
Prediction Markets at Robinhood
Robinhood has rolled out another asset class: event contracts. Clients can now speculate on Yes and No outcomes through a wide variety of event contracts. Here are some potential categories:
- Baseball
- College football
- Crypto
- Gold
- Economics
- Pro basketball
- Auto racing
- Technology
- Finance
- Soccer
- Culture
Within each available category, a wide range of questions can be asked. Each question represents an event, and traders buy and sell Yes and No contracts tied to the available outcomes. 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, or $140k)
• Who will win the October 4 game between Michigan and Wisconsin? (Michigan or Wisconsin)
Each possible answer has two tradable sides: Yes and No. The more likely an outcome is, the higher its price generally will be. A Yes or No contract normally costs between 1¢ and 99¢. A standard winning contract pays $1.00 at settlement, while a standard losing contract pays $0.00. Special settlement rules may apply to ties, canceled events, withdrawals, and other unusual situations.
Yes and No contracts are tradable. After purchase and before settlement, contracts can be sold at current market prices, which may be higher or lower than their purchase prices. During our examination of Robinhood’s app, we were able to trade Yes and No contracts on the Minnesota-Pittsburgh football game while the game was underway. Prices updated in real time.
Proceeds from winning contracts generally become available in event-contract buying power within one business day after the exchange settles the event. Exact timing can vary depending on when the event ends and how long the exchange takes to determine the official result.
Eligibility
Not everyone is eligible for Robinhood’s prediction markets. Traders must be at least 18 years old, be U.S. residents, have individual Robinhood brokerage accounts, and receive approval for Robinhood Derivatives accounts. Maryland residents cannot trade event contracts. Nevada residents cannot open new sports-event-contract positions. Additional state and contract-specific restrictions may apply.
Certain people may also be prohibited from trading contracts connected to events in which they have inside information or direct involvement. For example, a professional-baseball contract may prohibit current and former players, coaches, employees, and certain family members from trading it.
Opening an Account
Eligible traders must open a separate Robinhood Derivatives account linked to an individual Robinhood brokerage account. The derivatives account is offered through Robinhood Derivatives, LLC. Event contracts are currently offered through KalshiEX LLC, ForecastEX LLC, or Rothera Exchange and Clearing LLC.
To apply for the necessary derivatives account, you must first have an individual Robinhood brokerage account. Once that account is open, search for Prediction markets in the mobile app and open an event’s detail page. Select a Yes or No contract to begin the Robinhood Derivatives onboarding process. Follow the on-screen instructions to submit the application.
Prediction markets can be viewed on Robinhood’s website, but event contracts can currently be traded only through the mobile app. They are not available through Robinhood Legend.
Robinhood Promotion
Finding Event Contracts on Robinhood
It’s easy to find event contracts and their tradable outcomes in the Robinhood app. After logging in, search for Prediction markets or open the prediction-markets section from the investing screen. You’ll then see a list of available events.
At the top of the prediction-markets page, there is a row of categories. You can scroll to the right and tap the category you’re interested in. After opening a list of contracts, tap an event to view the available outcomes and their Yes and No prices. The event page also provides charts, timelines, contract terms, and settlement information.
How to Buy Event Contracts on Robinhood
Order submission for a Yes or No contract is straightforward in the app. Open the event, select the contract you want to trade, and choose the Yes or No side. You can enter an opening order in contracts or dollars.
Robinhood supports immediate-or-cancel and good-til-date limit orders. An immediate-or-cancel order attempts to fill immediately and cancels any unfilled amount. A good-til-date order allows you to set a limit price and remains open until it fills or expires at 3:00 a.m. ET on the next calendar day. Dollar-based orders are immediate-or-cancel orders.
Enter the number of contracts or dollar amount you want to purchase, review the price and fees, and submit the order. Opening orders placed by contract must use whole contracts.
To exit a current position, open the position, select Close position, and choose the number of contracts you want to sell. The contracts will be sold at the available market price if a buyer is available. You may be unable to close a position when the market is closed or lacks sufficient liquidity.
Robinhood Event Contract Pricing
Robinhood uses a probability-based commission formula for event contracts. The commission depends on the contract price, the number of contracts traded, and whether the customer has Robinhood Gold. Gold customers generally receive a lower commission rate. Robinhood rounds the commission up to the nearest cent per order, and the commission cannot exceed 1¢ per contract.
Exchanges may charge an additional fee of up to 1¢ per contract. Commissions and exchange fees can apply when opening and closing positions. Robinhood displays the applicable price and fees on the order-review screen before the trade is submitted.
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Updated on 6/17/2026.
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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