Robinhood Sues Nevada over Sports Futures Contracts as Gaming Enforcement Stands Firm

Robinhood sues Nevada over sports futures contracts as gaming enforcement stands firm

LAS VEGAS (KLAS) — Robinhood is suing the Nevada Gaming Commission, escalating the battle over Nevada's authority to prohibit sports futures contracts. A lawsuit filed Tuesday in U.S. District Court in Nevada seeks an injunction against state gaming regulators, preventing them from enforcing Nevada laws. "Sports-related event contracts" are transactions subject to Nevada gaming laws in the view of state authorities. The opposite view is that it'…

Robinhood Sues Nevada, NJ Gaming Regulators

Robinhood is once again allowing users in New Jersey and Nevada to trade on the outcome of sporting events.

Robinhood Takes States To Court Over Event Contracts Dispute - FinanceFeeds

Robinhood Derivatives, the derivatives division of the well-known trading platform Robinhood, has sued authorities in New Jersey and Nevada to stop them from taking action against its sporting event contracts. These contracts, which are made possible by a collaboration with Kalshi, a Commodity Futures Trading Commission (CFTC)-regulated prediction market, allow people to bet on the results of events such as elections and sports games.  On August…

Robinhood Files Lawsuits in Nevada, New Jersey Over Sports Event Contracts

Robinhood has filed lawsuits against gaming regulators in both Nevada and New Jersey to offer its sports event contracts to customers.

Robinhood sues New Jersey and Nevada regulators in sports event contracts row

Robinhood has sued gaming regulators in Nevada and New Jersey over allegations of attempts to block the rollout of the firm’s sports event contracts. The retail brokerage firm filed two complaints at US District Court level for both states, in which Robinhood is looking to prevent the New Jersey Division of Gaming Enforcement (DGE) and the Nevada Gaming Control Board (NGCB) from using state-level gambling laws to ban users from trading the contr…