Several types of restrictions can prevent you from opening new event contract positions.

If you're unable to trade event contracts, one or more of the following may apply:

• No Robinhood Derivatives account: You must apply and be approved. Access is separate from your brokerage account.
• State restriction: Maryland residents can't trade event contracts. Nevada residents can't open new sports contracts (as of December 1, 2025).
• Account restriction: A pending B-Notice or other restriction on your account may block event contract trading.
• Employment restrictions: Individuals that could be perceived as having access to material, non-public information may be restricted from trading event contracts.
• Market closed: Trading hours vary by contract. Check the event detail page for trading hours.
• No counterparty available: Closing orders require a buyer on the other side. If no one is buying, your order won't fill.
• App not updated: Some features require the latest version of the Robinhood app.

In addition to the general prohibition against trading on material nonpublic information, each exchange will institute additional prohibitions for trading the contract.

The individuals specified in Kalshi’s Appendix B will also be prohibited from trading.

ForecastEx (“FCX”) prohibition rules can be found in the rulebook for each event which can be found on the event details page.

A position closing only (PCO) restriction means you can close existing event contract positions but can't open new ones.

Common reasons PCO is applied

• A margin call is open on your account
• Your account is under review for an eligibility or compliance reason
• An eligibility change was detected (for example, a state change)

How long PCO lasts and how to resolve it

PCO duration depends on the reason it was applied. Resolving the underlying issue (for example, satisfying a margin call or completing a re-verification) typically lifts the restriction. Review your notifications to understand the specific reason for your PCO and what steps are needed to resolve it.

If you get a "stricter area" or similar geo-restriction error when trying to trade, it means Robinhood has detected that you're in a location where event contract trading isn't available.

This error can appear if:

• You're currently in a restricted state (even if you don't live there)
• Your state of residence on file doesn't match your current location

To resolve this:

1. Verify that your address on file is correct. Go to Account, then select Personal information.
2. If your address appears correct but you're getting this error, you may be in a location that is near a state line.

Restrictions and eligibility requirements apply. Futures, options on futures, and cleared swaps trading involves significant risk and is not appropriate for everyone. Carefully consider if it's appropriate for you in light of your personal financial circumstances. Displayed prices are based on real-time market sentiment.

Read the Event Contracts Risk Disclosure for more information about the risks associated with event contracts.

Futures, options on futures and cleared swaps trading is offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA). Event contracts are offered by Robinhood Derivatives, LLC through either KalshiEX LLC, ForecastEX, LLC or Rothera Exchange and Clearing LLC.