Event contracts let traders speculate on real-world outcomes, such as elections, economic reports or weather events. Kalshi is a dedicated, CFTC-regulated platform focused exclusively on event contracts, while Robinhood offers event contracts through multiple exchange partners, including Kalshi.(1)
In June 2026, Robinhood launched Rothera, its own CFTC-licensed exchange built with market maker Susquehanna International Group, giving it a third venue for event contracts alongside Kalshi and ForecastEx.(2) Separately, Robinhood’s share of Kalshi’s overall trading volume had already been falling before Rothera existed — from around 60% in September 2025 to under 23% by March 2026 — driven mainly by Kalshi’s own volume growing faster than Robinhood’s, not by Rothera.(3)
If you’re interested in trading prediction markets, we compare Kalshi and Robinhood specifically for event contracts, covering fees, trading experience, availability and support.
Here’s how they compare.
 |  | |
| Best for pure event-contract trading | ||
| Best for event-contract trading within a broader portfolio | ||
| Fees | Variable:(4)
| Variable, effective June 1, 2026:(5)
|
| Trading experience |
|
|
| Regulation/Oversight | CFTC-regulated exchange | CFTC-regulated, via Kalshi, ForecastEx and Rothera(2) |
| Mobile app reviews | Apple App Store: 4.8/5 based on over 563,000 reviews Google Play Store: 4.4/5 based on over 123,863 reviews | Apple App Store: 4.3/5 based on over 4,800,000 reviews Google Play Store: 4.4/5 based on over 556,093 reviews |
| Learn more |
| Kalshi | Robinhood | |
|---|---|---|
| Platform type | Dedicated event-contract exchange | Brokerage app offering event contracts via Kalshi, ForecastEx and its own Rothera exchange |
| Account types | Individual brokerage | Individual and joint brokerage |
| Event markets* | Comprehensive | Broad and expanding rapidly |
| Minimum trade size | $0.01 | $0.01 |
| Order types | Market, limit; combos and spreads also available | Market, limit; combos and spreads also available |
| Trading hours | 24/7 (depending on market) | 24/7 (depending on market) |
| Fees | Variable, depending on whether you’re a maker or taker and the contract price |
|
| Settlement/payout | Automatic on event resolution | Same as Kalshi |
| Regulation | CFTC-regulated | CFTC-regulated, through Kalshi, ForecastEx and Rothera |
| Mobile app | iOS/Android | iOS/Android |
| Notes | Purpose-built for prediction markets | Integrates into Robinhood’s broader app; ideal for users already trading stocks, crypto or options |
*May not be exhaustive
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Buy “Yes” or “No” contracts on a specific event. Each contract pays $1 if the event occurs. The platform is designed to be simple, fast and regulated.
Kalshi also supports combo and spread contracts across many of these categories.
The same process and payout apply. Robinhood’s event-contract lineup has grown quickly through 2026 — event-contract revenue was up 15x year-over-year as of August 2026 — and now spans player-specific sports contracts, an election hub and categories beyond its original sports-and-politics focus, including weather and commodities.(6) Traders don’t manage separate accounts with Kalshi, ForecastEx or Rothera — Robinhood handles the routing behind the scenes.(1)
Robinhood also supports combo and spread contracts across many of these categories. Its category list is expanding quickly enough that this list may lag what’s currently available in the app — check the app directly for the most current markets.
Uses a variable, formula-based fee structure. Fees depend on the contract price and market liquidity, so your exact percentage changes by trade. For many mid-priced contracts, fees are around a few cents per contract, but can be higher or lower depending on where the price sits. This gives Kalshi flexibility but makes costs less predictable. Some markets, such as certain index-linked contracts, use different fee coefficients than the standard formula below — check Kalshi’s current fee schedule for the specific market you’re trading.
Fees = round up (0.07 x C x P x (1-P))
P = the price of a contract in dollars (50 cents is 0.5)
C = the number of contracts being traded
round up = rounds to the next cent
Fees = round up (0.0175 x C x P x (1-P))
Robinhood switched from a flat per-contract fee to a formula-based commission effective June 1, 2026.(5) The commission is calculated as k x P x (1-P) x the number of contracts, where P is the contract price and k is 10% for standard accounts or 5% for Robinhood Gold subscribers, rounded up to the nearest cent. This mirrors Kalshi’s own formula-based approach rather than the simple flat fee Robinhood previously charged. On top of this commission, contracts sourced from Kalshi carry an additional $0.01-per-contract, per-side exchange fee; contracts routed through Robinhood’s own Rothera exchange or through ForecastEx may carry different exchange fees not detailed in Robinhood’s published schedule. Robinhood’s commission-free trading — for stocks, options, crypto — doesn’t apply to event contracts.
Kalshi offers a purpose-built interface designed specifically for event-contract trading. Markets are organized by category — e.g., economics, politics, climate — with clear probability indicators, bid–ask spreads, settlement dates and historical trend data. The platform focuses heavily on clarity, speed and decision-making tools, making it easy to compare markets and understand risk.
Because it’s built solely for event contracts, everything — from order placement to portfolio tracking — is optimized for this type of trading. Advanced traders may appreciate the structured layout, deeper market pages and the interface’s overall precision.
Robinhood integrates event contracts directly into its existing brokerage app, making them easy to access for users who already trade stocks, exchange-traded funds (ETFs), options or cryptocurrencies. The design is simple and familiar, with clean cards and quick-buy flows.
However, this convenience comes with trade-offs: Robinhood’s event-contract interface is not as detailed or specialized as Kalshi’s. You may see fewer data points and less market-specific context. For casual or occasional traders, this streamlined experience is ideal — but serious event-contract traders may find it less informative than Kalshi’s native platform.
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