The Robinhood app is free to download from both the App Store and Google Play. Once installed, you can use it to seamlessly buy, sell, and trade event contracts across various categories like sports, politics, economics, culture, and more.
Event contracts are financial derivatives that let you speculate on whether a specific outcome will happen. Each contract is based on a simple Yes/No result, and prices fluctuate based on market movements. In this Robinhood app review, we’ll walk you through everything you need to know so you’ll have a clear picture of what to expect before signing up.
Short on time? Here’s a quick overview of the key facts from our Robinhood app review:
| App availability | iOS and Android |
| Regulation | Overseen by the CFTC and SEC |
| Minimum contract price | $0.01 |
| Maximum payout per contract | $1 for a correct outcome |
| Trading fee | $0.01 per contract bought or sold |
| Contract categories | Politics, sports, culture, crypto, climate, economics, companies, financials, tech & science, health, world |
| Required accounts | Brokerage account and Robinhood Derivatives account |
| User Ratings | 4.3/5 (App Store), 3.6/5 (Google Play) |
Yes, the Robinhood app is legit. While it does not hold a sports betting license like FanDuel, DraftKings, or Caesars Sportsbook, that doesn’t mean it operates illegally or without regulation.
Trading Robinhood event contracts is not considered sports betting. Because these contracts are treated as financial derivatives rather than wagers, they fall under a different set of rules.
Instead of being overseen by state gambling authorities, Robinhood’s prediction markets are regulated at the federal level by the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
As a result, the Robinhood mobile app is legal throughout most of the United States. However, there are some restrictions:
The Robinhood mobile app has become one of the most popular and widely used trading apps in the industry. Its popularity is reflected not only in its massive download numbers but also in the overwhelmingly positive feedback it continues to receive.
On the Apple App Store, the Robinhood app currently holds a 4.3 out of 5 rating, based on more than 4.7 million reviews. Users often highlight its simple navigation and easy-to-use interface as key strengths.
On the Google Play Store, the Robinhood app has been downloaded over 10 million times and has received a 3.6/5 rating from over 522,000 user reviews. Android users frequently praise its diverse event contract categories and fast order execution.
As many Robinhood app reviews have pointed out, the app has a clean, intuitive interface that is easy to navigate.
A standout feature is the Prediction Markets hub, which keeps event contracts organized in one place. Tabs at the top of the screen allow you to switch between categories – such as professional and college football, basketball, economics, culture, and more – by simply swiping left or right.
Live scores and real-time updates are available for all sports-related contracts, and you can customize which alerts you receive. Push notifications for prediction events can be managed in the “Update” section within the app’s notification settings.
Our only criticism is the lack of a landscape layout option, which would make it easier to view more data at once.
Contracts in Robinhood’s prediction market are priced between $0.01 and $0.99, with prices shifting based on how likely the market believes an event is to occur.
A price near $0.99 suggests strong confidence that the event will happen, while a price closer to $0.01 indicates low confidence. You can buy or sell contracts at any time before the event settles, allowing you to secure profits or minimize losses as the market changes.
If you hold your contracts until settlement, each correct outcome pays $1 per contract. Incorrect outcomes pay $0. Robinhood fees are charged at a rate of $0.01 per contract bought or sold, which is relatively low compared to most competitors.
No. Contrary to popular belief, you can’t place traditional sports bets on the Robinhood app. As explained in our guide to Robinhood sports trading, the app isn’t licensed as a sportsbook and doesn’t offer standard sports wagering.
What you can do is trade event contracts tied to real-world outcomes. Sports-related contracts are often compared to betting because you’re speculating on the result of an event. However, these contracts are legally classified as financial derivatives, not wagers.
Robinhood began offering prediction markets in 2024, starting with contracts tied to the US presidential election, often referred to as Robinhood election predictions.
Since then, it has expanded into multiple categories of real-world events and has recorded more than 2 billion contracts traded. Here are the different types of contract categories available on the Robinhood app:
New to Robinhood’s prediction markets? Here’s a quick guide to help you set up your account and start trading.
Download the Robinhood app: Use the links provided on this page to visit Robinhood’s website and install the app.
Open the necessary accounts: Set up a standard Robinhood brokerage account first, then apply for a Robinhood Derivatives account. You’ll need this to trade event contracts
Go to the Prediction Markets hub: Once your account is set up, open the Robinhood app and head to the Prediction Markets hub, where all event contracts are listed
Browse available categories: Swipe left or right across the top of the screen to explore categories such as sports, politics, and more
Choose a contract to trade: When you find a category you like, scroll to view live and upcoming contracts. Tap the contract you want to buy
Pick a side: Decide whether you want to buy the Yes or No contract for the event. You can choose only one side – never both for the same event
Enter your order details: Select the number of contracts you’d like to purchase. Prices range from $0.01 to $0.99 per contract
Review and submit your order: Double-check the contract price, quantity, and total cost. If everything looks correct, swipe up to place your order
Track your position: After the order fills, monitor your contracts directly from the Prediction Markets hub
Decide to sell or hold: You can sell your contracts at any time to lock in profits or limit losses before the event ends. Otherwise, hold until settlement
The Robinhood app stands out as one of the best prediction market apps in the industry, offering a unique way to participate in real-world events by trading contracts.
What truly sets the app apart is how user-friendly and intuitive it is. The dedicated Prediction Markets hub brings everything together in one place, making it simple to browse categories, follow live data, and buy and sell contracts in just a few taps.
With its simple Yes/No contract structure, a wide range of contract categories, and low fees, it’s no surprise the app has millions of downloads and high ratings on both the App Store and Google Play.
If you’re ready to dive in, use the links on this page to download the app and start trading event contracts today.
Yes, the Robinhood app is available on both iOS and Android devices. On the Apple App Store, it has a 4.3 out of 5 rating with more than 4.7 million reviews. On the Google Play Store, it has been downloaded over 10 million times and holds a 3.6 out of 5 rating from more than 522,000 user reviews.
Robinhood allows you to trade event contracts tied to real-world outcomes across several categories. These include sports, politics, economics, culture, companies, tech and science, climate, crypto, health, and global events. Each contract revolves around a simple Yes/No question, with prices ranging from $0.01 to $0.99.
You’ll first need a standard Robinhood brokerage account and a Robinhood Derivatives account. After setting them up, open the app and go to the Prediction Markets hub, where all available contracts are listed. You can browse categories, choose a contract, and select either a Yes or No position based on the outcome you believe will occur. Once you enter the quantity of contracts that you’d like to buy, you can swipe to place your order.
Yes. Robinhood charges a fee of $0.01 when you buy or sell an event contract. This is relatively low compared to many other prediction markets. When the event settles, each contract you hold will either pay out $1 if the prediction is correct, or pay $0 if the prediction is incorrect.
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