How the Robinhood promo code compares

While Robinhood dishes out a free stock to all new users, there's no specific prediction market promo available. My table below highlights the best actual prediction market offers from top apps.

Kalshi is one of the best sports prediction betting sites. With the Kalshi promo code SBR55, you can deposit as little as $10, make $25+ in trades, and collect $55 in bonuses. Learn more about this bonus by reading my Kalshi review.

The table above shows how Robinhood compares with other great prediction market apps like Kalshi, including the Polymarket promo code, the  ProphetX promo code, and the  FanDuel Predicts promo code. For more information about Polymarket, check out my Polymarket review.

Other great apps like Polymarket and Robinhood include the Fanatics Markets promo code,  Sleeper Markets promo code, Coinbase promo code, Gemini Predictions promo code, OG promo code, or Crypto.com promo code.

Other prediction market promos

I think the promos and bonuses highlighted above are the best of the best. However, they aren't the only options around. Whether you're trying to snag as many bonuses as possible or just want to check out every available option, here are a few more offers to consider:

• Moon promo code - Moon is a brand-new prediction market, offering something different as a welcome bonus: Up to 3.5% in Rake Back.
• Onyx promo code - A former DFS and sweepstakes operator, Onyx recently got into the prediction market industry and debuted a 'Spend $10, Get 50 in Bonus Picks' welcome offer.
• Plus500 promo code - Plus500 has a long, successful history as an investment and trading platform. With the recent addition of a prediction market, new customers can claim up to $20 in welcome bonuses.

All Robinhood promo offers

There are only two standard promos available at Robinhood, and neither is designed for sports prediction markets.

Robinhood sign up bonus

​Robinhood offers new users a sign up bonus in the form of a free stock valued between $5 and $200 upon account approval and linking a bank account or debit card. Most users receive a $5 stock, with 0.9% getting $10 and 0.1% receiving $200.

You don’t need to claim the reward immediately, but if you don’t do it within 60 days of opening an account, it will expire. You can sell your awarded stock only three days after claiming, while you can only withdraw the proceeds from the stock after it has been in your account for at least 30 days. 

Is there a Robinhood bonus for existing users?

Existing users at Robinhood can benefit from the referral bonus. By generating and sending an invitation link to another person, you and the person you refer will be eligible for another stock gift worth between $5 and $200. While there’s no limit to how many people you can invite, you can only receive up to $1,500 in stocks per year this way.

More online Robinhood promos

While no specific sports prediction promotions are available at Robinhood, there are ways to gain extra stock while exploring other options on the platform.

• Sign-up offer: Register an account and pick your gift stock from a list of American companies valued between $5 and $200, although most users get $5. You can sell your gift stock three trading days after claiming it, then withdraw the proceeds after a 30-day window.
• Referral offer: For every person you invite to join Robinhood, both of you will receive a gift stock. Go to Earn Stock (app) or Rewards (web) and select Share Link. Like with the sign-up bonus, your prize will be worth between $5 and $200. The stock reward limit through the referral program is $1,500 a year.

Robinhood promo code terms and conditions

Robinhood doesn’t run any promotions for sports traders at the moment. Because the platform doesn’t function in a traditional fashion like one of the best sportsbooks, you won't find typical deposit match bonuses, bonus bets, cashback opportunities, or any of the other best sportsbook promos.

How to enter the Robinhood promo code

Here’s how to set up an account at Robinhood in a few easy steps:

1. Go to the Robinhood website or download and open the Robinhood mobile app.
2. Create login credentials by typing in your email and coming up with a password (at least 10 characters).
3. Share personal information, including your name, phone number, address, Social Security Number, and date of birth. You must be at least 18 years old and a resident of the United States.
4. Link a payment method, such as your debit card or bank account.
5. Before finishing, you’ll be asked to complete a questionnaire about your investing experience, employment, and some insider trading-related inquiries.
6. Your application will be put under review. Once approved, you will receive a confirmation email. Follow the link in the email, and your account will be up and running.

Is Robinhood legal?

The short answer: Yes, Robinhood is legal to use in most states.

Robinhood is certified by the Commodity Futures Trading Commission (CFTC) and is legal in all 50 US states. Moreover, the platform is regulated by the Securities and Exchange Commission (SEC) and is a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA). It's also an official prediction market partner of the National Hockey League (NHL).

Users must be at least 18 and provide proof of US citizenship. Being legal across the country enables Robinhood to offer sports predictions to residents of states where online sports betting isn’t permitted.

However, the future of its sports prediction service is up in the air, considering the legal challenges it faces from various state regulators. A handful of states have filed cease-and-desist letters against Robinhood (and similar platforms like Kalshi or Crypto.com). Still, for the time being, Robinhood is one of the best NFL prediction market sites.

Robinhood review

The Robinhood website and app prioritize an intuitive, beginner-friendly design that aims to make the platform feel welcoming to traders of all experience levels. Users can enjoy an easy onboarding process, assisted by clear and concise language and extra educational resources for learning about investing.

The website and app design maintain a cohesive aesthetic, contributing to the overall sense of simplicity and clarity. The app is well-regarded by users, boasting a 4.3-star rating on the iOS App Store and a similar 4.2-star rating on the Google Play Store.

Instead of betting on various markets like with traditional sportsbooks, you trade contracts with other users based on game outcomes. For instance, you could buy 100 contracts for Duke to win its basketball game against Florida for $0.60 each. This would cost you $60, and if the prediction is correct, every contract will pay out at $1. This will give you a total return of $100 ($60 back plus a $40 profit).

At Robinhood, there are no commissions or account minimums. But for a $50 annual fee (including a 30-day free trial), you can sign up for Robinhood Gold and enjoy premium features like larger instant deposits, access to professional research, Level II market data, and more.

Payments can be initiated via ACH, instant bank transfers, and debit cards, with the latter two options incurring a 1.75% withdrawal fee.

Clicking Support on the main menu leads to a comprehensive help section with hundreds of detailed articles covering everything from setting up an account to using the platform’s advanced features.

If you don’t find the answers you're looking for, you can reach support directly by phone, email, or live chat, which is available between 7:00 a.m. and 9:00 p.m. ET. Priority access to customer support, including telephone and email support, is available via Robinhood Gold.

Pros ✅

• Regulated and certified by the CFTC
• No commission or account minimums
• Active since 2014 with a good track record
• Beginner-friendly platform for aspiring traders
• Great UX on both desktop and mobile apps

Cons ❌

• Limited selection of payment options
• Withdrawal fees
• Live chat is not available at all times

Robinhood payment methods

Robinhood doesn’t impose deposit or withdrawal minimums, so you can start trading with as little as you wish. However, there are some transaction limits you should be aware of.

You can only make five deposits and five withdrawals with originated ACH, with a $50,000 limit per transaction or $250,000 daily. Withdrawals have a $50,000 daily limit. Non-originated ACH has a $250,000 daily limit for deposits and withdrawals, with no limit on the number of transactions.

Users can also top up their accounts using MoneySend with a 7-day rolling limit of $2,999. The limits for debit card transactions and instant bank transfers vary daily, while also having a 1.75% fee for withdrawals.

Debit card and instant bank transfer deposits are almost immediately available, while ACH deposits may take up to five days. Withdrawal pending times vary, but they typically take several days.

Because Robinhood isn't a sportsbook, the deposit and withdrawal schedules are pretty different from other operators in the space. I've compiled a list of the best online sportsbooks for payouts so you can easily compare them to Robinhood.

Robinhood customer support

You can reach out to Robinhood’s customer service in the following ways:

• Email: support@robinhood.com
• Live chat: Available every day from 7 a.m. to 9 p.m. ET
• Phone: 650-761-7789 (standard support), 888-275-8523 (Robinhood Crypto accounts and Robinhood Spending accounts only)

Recent Robinhood updates

Introducing sports prediction markets hasn’t been a smooth process for Robinhood. Only weeks into the launch of this service, it was dealt a subpoena by Massachusetts regulators. The argument is that Robinhood is using the service to work around offering sports betting without a proper license.

Meanwhile, the New Jersey Division of Gaming Enforcement (DGE) sent cease-and-desist letters to Robinhood and its partner, Kalshi, for the same reasons. Kalshi has a history of legal challenges related to its operations, particularly its 2024 political election-based markets, which it successfully defended.

October 2026

-Robinhood's prediction market business is now growing faster than its crypto trading sector, indicating a shift in how users want to use the platform.

September 2026

-Robinhood will stop offering sports event contracts in Michigan, amid an ongoing lawsuit from the Michigan Gaming Control Board (MGCB).

-Robinhood announces a new partnership with OG.com (which is powered by Crypto.com) to expand access to prediction markets for its users. 

August 2026

-Robinhood reports on its monthly operating metrics, with 28.5 million funded accounts and total platform assets at $335 billion. 

Responsible trading with Robinhood

It doesn't matter whether you consider it investing, trading event contracts on prediction markets, or plain 'ol gambling: the risk of losing your money remains a very real possibility when you use Robinhood. The same is true of any financial speculation platform. 

You should always spend responsibly, never risking money that you can't afford to lose, and don't chase losses with even riskier trades. 

If you ever feel like your trading habits are getting away from you, please reach out to one of the national helplines: 1-800-MYRESET or 1-800-GAMBLER.