Quick facts about Robinhood age requirement
- The minimum age to open an account with Robinhood is 18.
- Custodial accounts are not available for users under 18.
- Robinhood will require you to verify your identity to confirm your age before you can place your predictions.
- Residents of some states cannot access event contracts, even if they meet the age requirement.
A brief overview of Robinhood
Robinhood is a trading site that lets you trade stocks, crypto, and, now, sports prediction markets via event contracts. It also provides markets for politics and economics, giving you a wide range of events.
With Robinhood event contracts, you trade on event outcomes by buying Yes or No trades tied to the specific event. Yes means you believe something will happen, while No means you think it won’t. For every Yes buyer, there has to be a No seller on the other side.
The price of each contract reflects how likely the market thinks that outcome is. If your prediction is correct, the contract pays out $1. If you are wrong, you get nothing. It’s as simple as that.
For example, say you believe the Lakers will win their next game, and you buy 20 Yes contracts at $0.50 each. That’s $10 total. If the Lakers are the match champions, your contract pays out $20, giving you a $10 profit before fees. If they are not the champions, you’ll walk away with nothing.
The Commodity Futures Trading Commission (CFTC) regulates Robinhood event contracts, and real trading activity affects every price you see.
What is the minimum age to register at Robinhood?
So, how old do you have to be to predict on Robinhood? The answer is simple: you need to be at least 18 years old.
This minimum age requirement is due to US financial law. Robinhood is a registered brokerage, and regulations don’t allow minors to manage these types of accounts on their own. Moreover, the site doesn’t offer custodial accounts, so parents cannot open one on their teenager’s behalf.
Other requirements for signing up at Robinhood
Besides meeting the Robinhood age limit, you also need to meet other requirements to make predictions on the site. I’ve provided them below:
US Residency
You can only use Robinhood if you are in the US. The site operates in 49 states in the US. If you reside in Maryland, you’ll not have access to the predictions market. However, the site’s availability can change, so ensure you always check the terms to be sure.
Account verification
When you sign up at Robinhood, you’ll need to verify your account using a government-issued ID and Social Security Number (SSN). This is standard practice in prediction markets and ensures compliance with federal anti-fraud rules.
In a nutshell, here are the requirements to play at Robinhood:
| Minimum age | 18 |
|---|---|
| Eligible states | 49 states |
| Account verification | Government-issued ID and SSN |
How to sign up and make predictions at Robinhood
Now that you know the Robinhood account age requirement, you can quickly sign up and make your predictions if you qualify. During my review, it took me a few minutes to register and have access to my account. Here are the steps to follow:
- Download the app or visit the website: Click the banners on this page to go to the official Robinhood website. You can also download the app from the App Store or the Play Store.
- Create an account: Tap on the Sign Up button on the homepage and complete the registration steps by filling in your name and other details.
- Verify your account: Upload the required documents, including your ID, to complete your account verification.
- Fund your account: Add funds using one of the accepted payment methods.
- Make your predictions: Head to the “investing” tab and select prediction markets. Select an event contract and pick ‘Yes’ or ‘No’ for the outcome you want to predict.
- Manage your prediction: Once your contract is active, you can either wait for the event to finish to see the outcome.
During my Robinhood review, I made sports predictions on various events. The site provides markets for soccer, basketball, college football, and boxing. I also found markets for other categories, including politics and economics.
Another notable aspect you should keep in mind is that Robinhood fees for contracts are minimal. The site charges $0.01 commission per contract you trade, which is automatically deducted from your account.
Pros and cons of the Robinhood minimum age requirements
I’ve summarized some of the positives and potential downsides of the Robinhood age requirement below:
Pros
- Ensures compliance with US financial laws
- Protects minors from financial risk
- Confirms users can legally manage financial accounts
- Adds an extra layer of identity verification and security
Cons
- No custodial accounts for teenagers
Expert tips for getting started at Robinhood
When predicting events, I always follow expert advice to make the most of my time on the site. These strategies apply to Robinhood election predictions, sports events, and other markets available on the site. Here’s a run-through of my expert tips.
Ensure you meet the requirements
Before anything else, make sure you meet the basic requirements. You need to be at least 18 years old, a US resident, and have a valid Social Security Number and government-issued ID ready before you sign up. I suggest you keep these documents close so you can quickly complete the verification process when needed.
Start small
If you’re new to prediction markets, start with small funds. This gives you a chance to learn how event contracts work and how prices move. As you get more comfortable, you can gradually increase the amount you use for predictions.
Focus on familiar markets
I usually focus on Robinhood sports predictions because I fully understand how it works, especially soccer. Predicting events you know allows you to do proper research and make informed decisions.
Check state restrictions
Not all features are available everywhere. If you are in Maryland, for example, you will not have access to event contracts. Always check what is available in your state before getting started.
Avoid emotional predictions
Don’t make impulsive predictions based on your gut feeling or because you’re a fan of an event or a team. Stick to events you have researched and have clear reasons for trading on.
Conclusion – Only 18+ US residents can trade on Robinhood
If you were wondering, how old do you have to be to use Robinhood? My guide has shown that it’s 18, and there is no way around it. There are no custodial accounts to help you bypass this rule. Before you can start making predictions, you’ll need to pass an identity verification check to confirm you meet the age requirement.
Once you meet the Robinhood age requirement and reside in any of the US states, you can sign up and start making your predictions. You can trade Yes or No outcomes on various events, including sports, politics, and economics. Robinhood also keeps costs low, charging just $0.01 commission per contract, which is one of the lowest fees I’ve seen.
If you meet all the requirements to make your predictions at Robinhood, you can get started by clicking on the banners on this page to visit the official website. Create your account, top up your wallet, and start buying contracts.
