Robinhood Prediction Markets Promo Code

Welcome to the InGame guide to the best Robinhood Prediction Markets promo code offers. Robinhood started as an app for buying and selling stocks, but it has quickly grown into a financial powerhouse, offering a range of products, including prediction market event contracts. Robinhood Event Contracts is an offshoot of Robinhood Derivatives, which is one of the suite of Robinhood products available on the app. 

This page will cover everything related to Robinhood prediction markets, including how to find the promo code, which new customer offers are available on Robinhood, which markets and sports are on the app, all the fees and banking options, pros and cons of Robinhood, and more. Let’s get started. 

What is the Robinhood Prediction Markets promo code?

No promo code is required to qualify for the Robinhood Prediction Markets new customer offer. Anyone who signs up for an investing account at Robinhood can get a share (or partial share) of stock worth $5-$200. Most people get $5 but a few lucky ones get more. You can pick which stock you want from a preselected list of companies.

After three trading days, you can sell the stock; however, you have to wait 30 days before you can withdraw the proceeds. The new customer offer does not apply to prediction markets and cannot be used on event contracts.

Robinhood Prediction Markets quick facts

How to claim the Robinhood Prediction Markets promo code

Here are the steps required to claim the Robinhood new customer offer

Available markets

Robinhood has a wide variety of event markets to choose from. Due to Robinhood’s partnership with Kalshi, the list of event markets will look familiar to those who trade event contracts on the Kalshi app. That said, the available markets on Robinhood are not yet as robust as Kalshi or Crypto.com, but the company is just getting started in the event market space and is adding more contract options every week.   

Sports markets available on Robinhood

As you can see in the list below, the number of sports offered by Robinhood Event Contracts is limited, but since they have partnered with Kalshi, we see no reason why the Robinhood app won’t have just about all the same sports listed on Kalshi at some point in the future. 

Robinhood promo code ongoing bonuses and promotions

Robinhood has a refer-a-friend program that offers sustained value for customers who invite their friends to open accounts on the site. Additionally, those who pay extra for Robinhood Gold can get a higher interest rate on their cash balances. Robinhood does not have any new or ongoing promotions directly related to its Event Contract offerings. 

Robinhood fees and banking options

All event contracts on Robinhood are priced at $1. Users pay between 1 and 99 cents, and the contract settles at $1. Robinhood charges a 1-cent commission per contract bought or sold. If you buy a contract and then sell it before it expires, you pay the commission for each transaction, not just when you bought the contract. If you hold the contract for its duration, you only pay the commission once. 

That is the only trading fee that Robinhood charges. Sometimes, there are additional fees levied by the exchange that processes the contract. Those fees will be listed during the purchasing process. Additional fees that the user doesn’t explicitly pay are spreads included in the contract price. For example, if a Yes contract is listed at 85% and a No contract is listed at 17%, that adds up to 102%, not 100%. The extra 2 percent is the spread that goes to the exchange.

Robinhood banking options

Robinhood only has three banking options to choose from. Users can transfer funds from their bank account using ACH eCheck, a debit card, or a wire transfer from their bank to their Robinhood account. There are no fees to make a deposit using any banking method.

To withdraw funds, you can transfer money from your Robinhood account to your bank account using an ACH eCheck bank transfer, debit card, or wire transfer. Withdrawals to a debit card and instant withdrawals can incur up to a 1.75% fee. Additionally, you can only withdraw funds to the same source you used to make a deposit. There are exceptions to this rule, but it requires approval from Robinhood staff. 

Is Robinhood Prediction Markets legal and safe?

Yes, it is legal and safe to use Robinhood prediction markets. Event contracts traded on Robinhood are legal and available to trade in every state except Maryland. Robinhood Derivatives, LLC, a subsidiary of Robinhood that handles its prediction markets operation, is registered with the CFTC and is subject to federal regulation. Robinhood partners with Kalshi, also federally regulated by the CFTC, to offer event contracts. Buying and selling sports event contracts on the Robinhood app is totally legal and safe. 

Pros and Cons of Robinhood Prediction Markets

Customer service and support options

Robinhood has an extensive library of content related to every aspect of its operations. From how to get started to specific details about fees and tax implications of different investing strategies, most questions can be answered using the Help Center.

Suppose you look through the Help Center and still have a question about how to use your promo code or any other issue. In that case, you can chat with a Robinhood representative at any time, or you can actually call someone on the phone, which is unusual in the prediction market industry.

Conclusion

No Robinhood promo code is required to unlock its interesting new customer offer. Anyone who signs up for an account at Robinhood can get a stock award of up to $200. Should you sign up for an account just to trade event contracts? No, and here’s why. 

Robinhood has partnered with Kalshi to power its event contract operations. This means it’s an add-on to the existing products available on the site. If you aren’t interested in trading stocks or doing anything else on Robinhood, you should just go to Kalshi directly and sign up there instead. The variety of markets is broader, and the website is much easier to navigate.

However, if you are interested in what Robinhood has to offer and want to try out some of its other products while also trading event contracts, it is worth your time to sign up for an account and check it out.