Robinhood Suspends Super Bowl Betting Amid CFTC Inquiry
Robinhood Markets Inc. has been ordered to halt its offerings for traders to wager on the outcomes of the February 9 Super Bowl game by the Commodity Futures Trading Commission (CFTC).
The CFTC had previously requested information from platforms, including Robinhood and Kalshi Inc., on their compliance with derivatives rules regarding sports betting contracts.
Expressing disappointment, Robinhood announced the suspension of its Pro Football Championship market, which had been rolled out to approximately 1% of its customers. The platform will allow those who placed trades to close their positions or resolve them.
Kalshi representatives declined to comment, while the CFTC did not respond immediately to a request for comment.