- Robinhood prediction markets live inside the Robinhood app: you trade yes/no event contracts from your brokerage account.
- Robinhood is a broker, not the exchange. Orders go to Kalshi, ForecastEx, Crypto.com's exchange or Rothera, Robinhood's own exchange with Susquehanna.
- You pay a Robinhood commission of at most 1¢ per contract plus the exchange's own fee.
- It suits existing Robinhood customers; dedicated exchanges offer more markets and order control.
This review of Robinhood prediction markets explains what the product is, where your orders actually go, what it costs and who it suits, as of October 2026. Robinhood added a prediction markets hub in March 2025, starting with contracts listed on Kalshi, and has since built its own exchange. If you're new to the idea, read what prediction markets are first. Nothing here is advice.
Robinhood prediction markets: what they are
Robinhood Derivatives, LLC is a futures commission merchant (FCM): a broker registered with the Commodity Futures Trading Commission. It doesn't set prices or take the other side of your trade. It sends your order to a regulated exchange, and the contract pays $1 if the event happens and nothing if it doesn't, like any event contract.
Robinhood routes to several exchanges:
- Kalshi, its original partner;
- ForecastEx, the exchange owned by Interactive Brokers;
- North American Derivatives Exchange, the Crypto.com / OG exchange, for some football contracts since September 2026;
- Rothera Exchange and Clearing, a joint venture of Robinhood and Susquehanna. It bought the MIAXdx exchange (formerly LedgerX) in January 2026, and the CFTC lists it as both an exchange and a clearinghouse. Robinhood has said it expects to move most of its flow there.
Robinhood prediction markets at a glance
| Feature | Robinhood |
|---|---|
| What it is | Broker front end (CFTC-registered FCM) inside the Robinhood app |
| Exchanges | Kalshi, ForecastEx, Crypto.com / OG, Rothera |
| Markets | Sports, economics, politics, crypto, commodities, culture |
| Fees | Robinhood commission (price-based, capped per contract) plus the exchange's fee |
| Who can use it | US residents 18+ with a Robinhood brokerage account; not every state |
| Access | Robinhood app and web |
Markets and how trading works
The hub groups markets by topic: pro and college football and other sports, economic releases, crypto prices, commodities, culture, and a politics section that has covered the midterms. You buy Yes or No in the same order ticket style as a stock trade and can sell before the event settles. Prices in cents read as the market's probability.
Because Robinhood shows markets from several exchanges, the same question can exist on more than one venue at slightly different prices. Robinhood picks the routing; you don't choose the exchange order by order.
Robinhood prediction market fees
Robinhood's fee schedule sets a commission that depends on the contract price: highest near 50¢ and capped at 1¢ per contract, with a lower rate for Robinhood Gold members. The exchange charges its own fee on top. Fees apply when you buy and again when you sell before settlement, so frequent trading adds up. Compare total costs with a dedicated exchange using our fee calculator.
Pros and cons
| Pros | Cons |
|---|---|
| No new account if you already use Robinhood | Broker layer adds a commission on top of exchange fees |
| Markets from several regulated exchanges in one place | You don't choose which exchange fills your order |
| Familiar order ticket and app | Fewer order types and markets than a dedicated exchange |
| Robinhood now runs its own exchange, Rothera | Not available in every state; sports contracts face state legal challenges |
Who it suits
Robinhood's hub suits people who already hold a Robinhood account and want to try event contracts without opening another one. Active traders who care about fees, depth and order types will usually do better on an exchange directly. See our Kalshi review and the full platform comparison, or browse current prices on the live markets page.
Frequently asked questions
Does Robinhood have prediction markets?
Yes. Robinhood has offered prediction markets since March 2025 through its derivatives broker, routing to regulated exchanges including Kalshi and its own exchange, Rothera.
Is Robinhood's prediction market regulated?
Robinhood Derivatives is a CFTC-registered broker, and every exchange it routes to is CFTC-registered. Some states dispute sports event contracts in court, so availability can vary by state.
What is Rothera?
Rothera Exchange and Clearing is a prediction-market exchange and clearinghouse owned by a Robinhood and Susquehanna joint venture. It took over the MIAXdx exchange, formerly LedgerX, in January 2026.
How much does Robinhood charge on prediction markets?
A price-based commission capped at 1¢ per contract, lower for Gold members, plus the exchange's own fee, charged when you buy and when you sell before settlement.