Trading platform Robinhood has been forced to roll back plans to launch sports contracts following intervention by the Commodity Futures Trading Commission.
Robinhood only announced the launch of the sports contracts on Monday, via a partnership with prediction market Kalshi in time for Saturday evening’s Super Bowl LIX kick off between Kansas City Chiefs and Philadelphia Eagles.
However, the US commodities regulator has since called on Kalshi and crypto exchange Crypto.com, which is also offering wagers on the Super Bowl, to clarify how their events contracts comply with derivatives regulations.
“While we continue to work with the CFTC to understand their concerns, we are suspending the rollout of the Pro Football Championship market,” Robinhood said in a statement.
