Kalshi vs Robinhood prediction markets: what's the difference?
Robinhood started by routing to Kalshi and is now building its own exchange. What that means for you.
Short answer: Robinhood launched a prediction markets hub with contracts supplied by Kalshi, and in 2026 began moving some contracts to Rothera, an exchange it owns with Susquehanna, and signing new partners, including a September 2026 deal with Crypto.com and OG (Bloomberg, Axios). If you already use Robinhood, it's convenient. If you want the full range of markets, tools and welcome offers, open Kalshi directly.
| Kalshi | Robinhood | |
|---|---|---|
| What it is | Dedicated prediction exchange | Brokerage with a prediction hub |
| Markets | Thousands, every category | A curated selection |
| Who runs the contracts | Kalshi | Kalshi, Rothera and partners (varies by market) |
| Welcome offer | Trade $25, get $25 (WINPREDITCS) | Robinhood's own promotions |
Which to choose
- Already a Robinhood user, want a few big markets: Robinhood's hub is convenient.
- Want every market, limit orders and deeper books: Kalshi.
- Many people use both.
Kalshi offer, checked 27 September 2026
Trade $25, get $25
Promo code: WINPREDITCS
Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information. Terms apply.
Frequently asked questions
Does Robinhood still use Kalshi?
For some markets. Since 2026 Robinhood has routed a selection of contracts to Rothera, its own exchange with Susquehanna, and added other partners.
