Robinhood announced a limited rollout of presidential-election event contracts on October 28, 2024, eight days before Election Day. Approved customers could take Yes or No positions tied to whether Kamala Harris or Donald Trump would win. These were financial event contracts—not a statement of Robinhood’s support for either candidate and not conventional sportsbook wagers.
What Robinhood launched in October 2024
Robinhood said its subsidiary, Robinhood Derivatives, would begin offering the contracts to a limited number of customers on October 28, 2024. Customers who were approved could trade based on their prediction of who would win the presidential election. The company also warned that the regulatory environment was evolving and that litigation or regulatory action was possible. Robinhood’s launch announcement
The Harris framing refers to one side of a market that covered both major candidates. The offering was not a conventional sportsbook, and “betting” is an informal description: the positions were presented as binary financial contracts tied to an election outcome.
How the Yes and No contracts worked
A December 19, 2024, letter from Representatives Sean Casten and Jeff Merkley described customers buying and selling Yes or No contracts for each candidate. In the lawmakers’ account, prices moved with the market’s prediction of each candidate’s odds. A contract on the winning outcome paid $1; a losing contract paid nothing. The representatives’ letter
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That letter is a congressional account of the mechanics, and its criticism of the product reflects the lawmakers’ position. It should not be read as a neutral regulatory determination.
How to interpret contract prices and payouts
Robinhood’s current general help page describes event contracts as binary financial derivatives: a Yes contract pays $1 if its specified outcome happens, while a No contract pays $1 if it does not. The page says prices generally range from $0.01 to $0.99 and reflect implied market probability; customers may buy or sell before expiration. Robinhood’s event-contracts help page
Those are current general mechanics, not a full record of the exact terms or price history of the 2024 Harris contract. The reviewed sources do not establish its complete historical price series, every contract-specific settlement term, whether it remains available, or its final settlement record.
What the regulatory records do—and do not—show
The Commodity Futures Trading Commission’s product listing records a ForecastEx “US Presidential Election Forecast Contract” certified on October 2, 2024. The listing also includes a Kalshi presidential-election product and other political contracts. This shows that election-related event-contract filings appeared in the regulator’s listing around the time Robinhood announced its rollout. It does not, by itself, settle the broader legal debate or establish which exchange route applied to Robinhood’s specific contracts. CFTC contract product listing
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Robinhood’s launch announcement flagged possible litigation and regulatory action. Separately, Casten and Merkley’s December letter argued that election betting raised investor-protection concerns. Those are distinct kinds of evidence: a company risk disclosure, a regulator’s product records, and lawmakers’ objections—not a single finding about legality or consumer harm.
What Robinhood later reported about trading
At its 2024 Investor Day, Robinhood reported that more than 500 million election contracts had traded in approximately one week. That is Robinhood’s company-reported figure from a presentation about cumulative election contracts traded; it is not an independently audited number or a market-wide total. Robinhood Investor Day presentations
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How current access and fees differ from the 2024 launch
Robinhood’s help page, accessed October 5, 2026, says current eligibility generally requires an approved Robinhood Derivatives account, an individual brokerage account, US residency, and age 18 or older; availability varies by state. It also says that since June 1, 2026, a probability-weighted commission calculation has applied, with the tier constant varying based on Gold membership, and that exchange fees may also apply. These are current general terms, not the original 2024 launch conditions or a statement that the Harris contract is available now. Check Robinhood’s current disclosures for terms that may have changed.
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