robinhood – FairOdds Network

April 8, 2025

Maryland fifth state to send cease-and-desist letters to Robinhood, Kalshi and Crypto.com

The state joins Nevada, New Jersey, Ohio and Illinois in seeking to ban sports prediction markets.

Maryland has become the fifth state to send cease-and-desist letters to Kalshi, Robinhood and Crypto.com as the Maryland Lottery and Gaming Control Commission has directed the companies to stop offering sporting event contracts in the state.

Maryland joins Illinois, Ohio, Nevada and New Jersey in seeking to ban the companies from offering what they believe amounts to de facto sports betting.

“We view this as a legal matter and a consumer protection matter and there is also a fiscal interest for the state,” said Maryland Lottery and Gaming director John Martin in a press release. “Each of Maryland’s legal sports wagering operators completed a rigorous licensing process and is subject to extensive regulations that include responsible gaming requirements. The commodity traders aren’t bound by those same guardrails. They’re conducting sports wagering without a licence and, in doing so, the..

April 1, 2025

Ohio joins growing list of states to issue cease-and-desists to prediction market operators

State's gaming commission says Kalshi, Robinhood, Crypto.com all need licences to offer sports contracts.

Nothing attracts a crowd like a crowd. Fast on the heels of Nevada and New Jersey sending cease-and-desist letters to prediction market operators offering contracts on sports events and Massachusetts openly questioning their legality, Ohio piled in on Monday (31 March).

As explained in a press release, the Ohio Casino Control Commission (OCCC) issued cease-and-desist notices to three sites allowing users to risk money on sports outcomes: Kalshi, Robinhood and Crypto.com.

In his statement within the press release, OCCC executive director Matthew Schuler was explicit in his interpretation of what the trio of companies are doing.

“Purchasing a contract based on which team a person thinks will win a sporting event is no different than placing a bet through a traditional sportsbook,” said Schuler. “The only difference is that these event contracts do not have the consumer prote..

March 18, 2025

Kalshi, Robinhood partner for March Madness following cease-and-desist extension

Kalshi and Robinhood have partnered again to offer sports contracts, this time ahead of the NCAA men's and women's basketball tournaments.

The renewed partnership was announced by both sides on Monday (17 March). Robinhood will launch a standalone prediction market hub in its app, made possible through Kalshi. According to Front Office Sports, Robinhood had just under 25 million users as of last November.

The first markets will be on the NCAA men’s and women’s basketball tournaments, which begin on Tuesday (18 March) and Wednesday (19 March), respectively. There will also be contracts listed for whether the Federal Reserve will change the federal funds rate at its May meeting.

Last month, the exchanges partnered to offer Super Bowl contracts, but Robinhood quickly backed out following pushback from the Commodity Futures Trading Commission (CFTC). Kalshi and Crypto.com, another entrant into the prediction space, kept their Super Bowl contracts active before and during the..

February 3, 2025

Robinhood to offer Super Bowl betting via Kalshi

Partnership with brokerage makes event contracts available to large swath of population.

Robinhood announced on Monday (3 February) morning that it will be offering event contracts via Kalshi for Super Bowl LIX, creating the potential for a significant expansion of prediction market event trading. The Super Bowl is set for Sunday (9 February) between the Kansas City Chiefs and Philadelphia Eagles.

Front Office Sports was the first to report the announcement.

According to a press release from Robinhood, the brokerage views event contracts as “an opportunity to better serve our customers as their interests converge across the markets, news, sports and entertainment.” It plans to have event contracts available in all 50 states through Kalshi, saying they “leverage the power and rigour of the financial market structure to facilitate greater liquidity, transparency and price discovery”.

Access to Robinhood marketplace

The partnership furthers Kalshi’s rapid movement in getting Super Bo..

January 10, 2025

2025 predictions: Brazil to remain fluid, adopting novel betting types, sponsorships may be reviewed

How will the gambling sector evolve in 2025? We asked the industry to consider how key trends in 2024 will progress into this year

Ushering in 2025, the sector has hit the ground running in preparation for ICE Barcelona in a couple of weeks. Across the pond a couple of US states have kicked off their legislative sessions this year with bills supporting online gaming launches. But the holiday period provided enough downtime to reflect on ways the gaming industry evolved in 2024 and then consider what will likely dominate the headlines and earnings calls in the year to come.

Brazil’s legal online betting launch captured the most eyes in 2024’s news flow, and how the licensed market will navigate its infancy stages will pique the sector’s interest in coming months. Last summer, 113 operators applied for early-stage licences to enter the market, hoping to be among the first to launch on 1 January.

Brazil’s SPA then awarded 66 approvals at the turn of the year, including 14 full and 52..

December 6, 2024

State of the Union: Missouri margin was slim, FanDuel fined in MA, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Final tally: Slim win in Missouri

Missouri voters passed a legal sports betting initiative on 5 November, but the vote count wasn’t official until yesterday (5 December). And it turns out that the proposal won by the slimmest of margins – .05%, according to the Missouri secretary of state’s (SOS) office. The SOS certified the results, which show that Amendment 2 won by 2,961 votes. A total of 2,954,343 ballots were cast on the initiative question.

The initiative was the richest in Missouri history, with proponents and opponents spending a combined $57 million. DraftKings and FanDuel were the biggest proponents, although Missouri’s professional sports teams took the lead on the getting the initiative on the ballot.

Kansans have gone all-in on sports betting. But soon, Missouri residents will be able to rol..

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Tag: robinhood