Robinhood recently added a prediction market hub to the site, allowing users to trade on real-world event outcomes. While there is a Robinhood sign-up bonus, it is for the stock trading side of things, not prediction markets.
Despite this, if you do claim the reward, it can be used for prediction markets once you have gotten the value out of it. There isn’t a prediction market bonus available just yet, as it’s a new feature at Robinhood, but there’s every chance for one rolling out in the future.
Before you create an account at Robinhood, it’s worth weighing up how the welcome bonus works. Let’s take a quick look at the key details:
When opening a new account at Robinhood, you will qualify for an instant reward of up to $175 in stock. You can receive anywhere between $7 and $175 in stock, but 96% of rewards are roughly $7 to $8.
As such, you can expect to receive around that amount in reward stock. You can then sell the stock after meeting the holding requirements. You can’t sell the reward stock until after 3 trading days have elapsed.
So, you might not be able to pick up a specific bonus for prediction markets, but there is still some value to acquire. You also have the option to withdraw the money you obtained by selling the stock, but this is subject to a holding period of 30 days.
It’s always great to pick up some extra value when creating an account for the first time, as it’s the perfect way to kick-start your experience.
Unfortunately, there isn’t a specific prediction market bonus at Robinhood just yet, but we are hopeful that one will drop at some stage.
The registration process at Robinhood is easy. Take a look at the simple steps of opening your account, based on our Robinhood prediction markets review experience:
Still have a few burning questions? Allow us to walk you through everything here, so you are up to speed with how it works.
Who’s eligible for the bonus at Robinhood?
You must be a permitted user, which means you will need to meet the Robinhood age requirement and be located in an available region. You will be asked to prove your age, identity, and location after registration, so make sure that you have the appropriate documents.
Can I sell my reward stock?
Yes, you can absolutely sell your stock, but you must first wait for 3 trading days. It can’t be sold immediately, so as soon as the time elapses, you can sell it as you wish.
Are there any withdrawal restrictions after selling stock?
If you want to cash out the money you have acquired by selling your reward stock, there is a restriction in place. The funds must remain in your Robinhood account for a minimum of 30 days from the date it was credited. After this, you can withdraw your funds as you please.
What can I use my reward stock on?
You can either keep hold of your stock for a longer period or sell it. Once you have received the proceeds, you can use them on Robinhood election markets or any other category you are interested in.
Do I need a promo code?
We didn’t come across a promo code to activate this bonus, as it is automatically credited to your account after registration. This makes the whole sign-up process a breeze, so you can get started straightaway.
Picking up the Robinhood bonus is easy. All you need to do is register a new account, and you are good to go. Keep in mind that the reward stock isn’t a direct prediction market bonus, but the funds you get by selling the stock can be used as you wish.
Just remember that you must hold the stock for a minimum of 3 days before it can be sold. If this bonus sounds up your street, why not get started today by following the on-page links?