Robinhood added prediction markets to its investing app in late 2024, offered through Robinhood Derivatives, LLC and powered by Kalshi's regulated exchange infrastructure. For the tens of millions of people who already use Robinhood for stocks, options, and crypto, it is the lowest-friction on-ramp into event contracts that exists.
The product leans on Robinhood's signature zero-friction interface and an ultra-low cost structure of roughly a penny per contract plus a penny exchange fee. It has facilitated billions of contracts, with politics, economics, sports, and crypto among the available categories.
The downsides are breadth and independence: the market selection is narrower than dedicated venues, and the exchange engine is a partner's rather than Robinhood's own. As a first prediction-markets account for an existing investor, though, it is hard to beat.