Bill Bans Politician Trading with $10,000 Fines as $695 Robinhood Card Launches
Democratic Senators Jeff Merkley and Amy Klobuchar introduced a bill to bar the president, vice president and members of Congress from trading Robinhood event contracts, with fines starting at $10,000 for violations. Robinhood also launched a $695-per-year consumer credit card in 2026.
1. Proposed Regulation on Event Contracts
Senators Jeff Merkley and Amy Klobuchar drafted legislation to prohibit the president, vice president and members of Congress from trading event contracts on platforms like Robinhood Derivatives LLC. Violators would face fines starting at $10,000, a measure intended to curb potential insider trading and conflicts of interest.
2. Robinhood’s Derivatives Platform
Robinhood launched event contracts through Robinhood Derivatives LLC in 2024, allowing customers to trade on outcomes ranging from geopolitical developments to economic indicators. This product expansion has contributed to noncommission revenue growth in Robinhood’s derivatives segment.
3. New $695 Credit Card Offering
In early 2026 Robinhood introduced a $695-per-year premium credit card targeting high-spending consumers, featuring enhanced rewards and travel perks. The card aims to diversify Robinhood’s revenue beyond trading fees and strengthen its position in consumer financial services.