Robinhood Suing States Over Sports Contracts, Claims Regulatory Actions Unfair

Robinhood Derivatives, the trading platform’s specialized derivatives division, has filed lawsuits against gaming regulators in New Jersey and Nevada. These legal actions are aimed at preventing potential enforcement against Robinhood’s sports event contracts, which were authorized by federal courts earlier this year for prediction market Kalshi to operate in a similar manner. However, state authorities are pursuing their own actions to halt these contracts. ]