Novig vs Robinhood Prediction Markets: Fees and Features Compared (2026)

Last reviewed: November 3, 2026

Buying 100 pregame sports contracts at 50¢ costs $50 on Novig. On Robinhood, the same position can cost $52 after commissions and exchange fees. Robinhood Gold subscribers don't get a discount on that particular trade, even though membership reduces commissions at other contract prices. Both platforms let users trade sports predictions against other market participants.

Novig vs Robinhood Predictions at a glance

How Novig and Robinhood Predictions compare

Novig charges no fees on pregame straight trades

Novig and Robinhood both offer sports event contracts priced by market participants. Users can buy contracts on outcomes like game winners, spreads, and player performances, with winning contracts generally settling for $1 each. However, Robinhood charges a commission calculated from the contract price and number of contracts traded. Its June 2026 fee schedule sets the standard commission coefficient at 10%, falling to 5% for Robinhood Gold subscribers. Both rates are capped at 1¢ per contract, with commissions highest near 50¢. Robinhood's partner exchanges can charge an additional fee of up to 1¢ per contract. These fees apply when buying and selling, so exiting a position early can generate another round of charges.

Novig has no maker or taker fees on pregame straight trades. Users can accept an existing price or post their own order without an added trading fee. Maker fills are also free across live markets and futures, while taker fees apply to live straights and most futures. Parlay fees are included in the quoted price.

What does a $50 position pay on Novig vs Robinhood?

Suppose the same pregame game winner is available at 50¢ per contract on both platforms. You purchase 100 contracts, which settle for $100 if the selection wins.

On Novig, the position costs $50 without trading fees. A winning position returns $100, leaving $50 in profit.

On Robinhood, both standard and Gold users reach the 1¢ per-contract commission cap at this price, adding $1 to the purchase. If the underlying exchange also charges 1¢ per contract, the total cost rises to $52. A winning position would leave $48 in profit.

Robinhood Gold's lower commission formula becomes more useful at prices closer to either end of the contract range. At 90¢, for example, buying 100 contracts carries a $0.90 standard commission or a $0.45 Gold commission, before exchange fees. Gold costs $5 per month or $50 annually.

Novig's pregame fee-free structure avoids those commission calculations entirely. Actual contract prices can still outweigh the difference, so comparing the full purchase cost and potential payout is the best way to find value.

Trading sports on Novig vs the Robinhood app

Novig is built around sports trading, with market and limit orders available through its app and website. Users can accept the best available price or post a limit order at a preferred number and wait for another participant to fill it.

Robinhood Predictions is integrated into the company's broader investing platform. Users need an individual brokerage account and separate approval for Robinhood Derivatives before they can trade event contracts. Available contracts are routed through regulated exchanges, including Kalshi, ForecastEx, Rothera, and Crypto.com Derivatives North America. Robinhood supports two limit-order types. Immediate-or-cancel orders execute against available quotes or cancel, while good-til-date orders can remain open until filled or until their expiration, generally no later than 3 a.m. ET the following day. Prediction-market trading on Robinhood is currently available through its mobile app. Users can view markets on the website, though orders must be placed through the app. Event contracts also require settled buying power, so Robinhood's instant deposit feature cannot be used to fund these trades before a transfer clears.

Both platforms let users choose their own prices. Novig doesn't require a brokerage account or a separate derivatives approval.

Sports markets, combos, and early exits

Novig focuses on major American sports, with markets for game winners, spreads, totals, player props, futures, and parlays. It also covers sports like tennis, golf, MMA, and soccer.

Robinhood provides many of the same core sports predictions alongside non-sports contracts covering economics, politics, weather, and entertainment. Its available markets depend partly on the exchanges providing contracts. Robinhood offers preset combinations and custom combos with up to 10 legs for supported events, including professional football and basketball. These can include game winners, spreads, totals, and player contracts.

Selling positions before settlement

Novig lets users sell eligible straight positions at available market prices. The amount received depends on what other traders are willing to pay, allowing positions to close for more or less than their original cost. Novig also offers automatic early payouts when offsetting positions establish a guaranteed minimum return. The guaranteed proceeds are credited immediately, with any remaining payout settled after the event.

Robinhood also allows early sales of eligible contracts. Its custom combos can sometimes be closed as a single position, provided the exchange supplies a quote and another participant accepts the entire order. Closing orders can fail when liquidity is insufficient.

Availability, regulation, and promotions

Novig operates through Ludlow Exchange, a contract market designated by the Commodity Futures Trading Commission (CFTC). It is available in 46 states plus D.C., excluding Arizona, Nevada, Michigan, and Ohio, for eligible users aged 21 and older.

Robinhood provides prediction contracts through Robinhood Derivatives, a CFTC-registered futures commission merchant. The contracts themselves are offered through regulated exchanges, with users required to complete a separate derivatives-account approval process. Robinhood generally allows eligible users aged 18 or older. Maryland, Michigan, and Nevada residents cannot trade sports event contracts. Since November 2, 2026, Ohio residents cannot open new sports event contracts, and Utah residents cannot open new sports, culture, elections, or politics contracts. Other restrictions can apply depending on the contract, account, and location.

New-user promotions

Novig currently offers $50 in Trade Credits after a qualifying deposit of $10 or more, without requiring a trade first. The credits are issued in five $10 increments, each expiring after 30 days. They are non-withdrawable and subject to restrictions on eligible contract prices and credit use. Robinhood has no public sign-up bonus for prediction markets. Customers who receive a promotional link can claim one free trade when they open a Robinhood Derivatives account, and about 99% of those rewards are worth $10.

Which is better for sports trading, Novig or Robinhood?

Novig is the stronger choice for traders focused on minimizing pregame transaction costs. It charges no maker or taker fees on pregame straight trades, requires no paid membership for that pricing, and provides a dedicated interface for sports contracts.

Robinhood offers the convenience of prediction markets alongside stocks, ETFs, and other investments. Its custom combos and lower minimum age are useful advantages for eligible users, while Gold can reduce commissions on certain contract prices.

For users primarily trading sports, Novig's fee-free pregame markets, order controls, and sports-focused interface make it a compelling option. Compare the current prices on Novig before entering your next position.

Novig vs Robinhood Predictions FAQ

Is Novig cheaper than Robinhood for prediction markets?

Novig charges no fees on pregame straight trades or maker orders. Robinhood charges price-based commissions plus applicable fees, including on sports contracts. Novig also charges fees on certain live trades, futures, and parlays, so the cheaper platform depends on the market and execution price.

Can you set your own prices on Novig and Robinhood?

Yes. Both platforms support limit orders that allow users to specify a preferred price. Novig supports resting orders through its sports prediction market, while Robinhood offers good-til-date limit orders through its mobile app. Orders only fill when sufficient opposing liquidity is available.

Can you cash out parlays or combos on Novig and Robinhood?

Novig lets users sell eligible straight positions, with automatic early payouts available for certain hedged trades. Its parlays currently cannot be sold before settlement. Robinhood allows eligible combo positions to be closed as a single contract, provided an executable quote and counterparty are available.

Is Robinhood Predictions available in more states than Novig?

Novig is available in 46 states plus D.C., excluding Arizona, Nevada, Michigan, and Ohio. Robinhood has different eligibility rules, including sports event contract restrictions in Maryland, Michigan, Nevada, Ohio, and Utah. Robinhood also requires a separate approved derivatives account. Availability for individual contracts can vary by jurisdiction.

Sources

1. Novig: Fees on Novig
2. Novig: Make Orders vs. Take Orders
3. Novig: Straight Trades vs. Parlays
4. Novig: Early Payouts
5. Novig: How Selling a Position Works
6. Novig: Eligibility & Legality
7. Novig: New Member Deposit Program Terms
8. Robinhood: Event Contracts Overview and Fees
9. Robinhood: Trading Event Contracts
10. Robinhood: How Event Contracts Work
11. Robinhood: Event Contract Restrictions
12. Robinhood: Buying Power and Funding
13. Robinhood: Canceling or Closing Event Contracts
14. Robinhood: Robinhood Gold