The CFTC directed Robinhood to halt its sports event contracts after the company launched them in partnership with Kalshi, according to the report. Robinhood said it would comply, although the CFTC had not deemed Kalshi’s football championship contracts illegal. The company said customers with existing positions could close them or let them resolve.
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Webull has removed its brokerage fee on prediction contracts linked to the Super Bowl, while traders still pay exchange costs, the company said. The contracts are offered through its partnership with Kalshi, which the report describes as an exchange approved by the Commodity Futures Trading Commission. Webull US chief executive Anthony Denier said event-driven trading had grown faster than the company’s other segments since launching in Q3 2025.
Connecticut's Department of Consumer Protection issued cease-and-desist orders to nine prediction-market operators this week. The orders require platforms to halt sports event contracts and other alleged unlicensed online gambling and permit customer withdrawals. Investigators also issued nearly 30 subpoenas; recipients are not necessarily under investigation.
CFTC chair Michael Selig directed staff to draft a regulatory framework for event contracts, including sports-related contracts, in remarks on 29 January, the report said. He also said staff would withdraw a 2024 proposed rule and a 2025 advisory on sports contracts. The CFTC plans to review its involvement in relevant court cases and pursue closer work with the SEC on financial products.
Crypto.com will stop offering sports event contracts to Nevada residents after 3 November 2025, following a federal judge's denial of its preliminary injunction request. Nevada Gaming Control Board chairman Mike Dreitzer said the company plans to appeal; the board said it will not offer contracts or keep open positions while the appeal is unresolved.
Connecticut filed a lawsuit seeking to stop Kalshi offering sports event contracts to state residents. State officials consider the products unlicensed sports betting, while Kalshi argues federal oversight precludes state gambling regulation. Kalshi has appealed an earlier refusal to grant an injunction against Connecticut’s enforcement efforts.