Kalshi users had Robinhood activity far more often than active panelists overall
Share with any Robinhood receipt activity, August 2025–July 2026
Share with Robinhood activity
Source: YipitData U.S. e-receipt panel. Kalshi users n=20,661; dual Robinhood and Kalshi users n=3,624; active-panel benchmark n≈1.39 million. Receipt activity does not measure trading value or profit and loss.
Chart data
| Series | Share with Robinhood activity |
|---|---|
| Kalshi users | 17.5% |
| Active panelists | ~3% |
Which service appeared first for Robinhood and Kalshi dual users?
Robinhood appeared first for 93.2% of 5,719 dual users with observable first-activity dates, while Kalshi appeared first for 4.9%. The median gap was ~1,603 days, or ~4.4 years. First-observed receipt dates establish sequence in the panel, not the exact date each account was opened.
How did Robinhood’s Kalshi overlap compare with other brokerages?
Robinhood had 3,624 dual users in the trailing 12 months, ahead of Coinbase at 2,045 and SoFi at 1,276. Peer brokerages also appeared disproportionately among Kalshi users, so Robinhood’s lead reflects scale rather than a Robinhood-only pattern.
Assumptions & Methodologies
We analyzed established U.S. e-receipt panelists through July 2026. Robinhood or Kalshi activity required any receipt from that sender. The primary window was August 2025–July 2026; sequence used full available history. Panelists were present before the window and active in the last 30 days. Kalshi receipts capture direct Kalshi activity rather than Robinhood-routed event contracts. Unconnected inboxes can hide activity, and receipts do not reveal stake size, profit, or loss. Results describe panel overlap and sequence, not market totals, displacement, or causality.