By SectorWire desk ·
The federal government sought to prevent Connecticut from enforcing measures against prediction markets. Robinhood also sought to join the legal proceedings.
For prediction market operators, federal intervention challenges Connecticut’s enforcement measures, while Robinhood seeks to join the proceedings.
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The refusal denies Kalshi the requested temporary protection against state gambling law enforcement.
The decisions deny the operators the preliminary protection they sought against state gambling regulation.
The contracts could give operators and investors a regulated route to trade on company performance measures, while the clearinghouse approval remains outstanding.
The applications could enable Blockchain.com to seek approval to bring prediction markets and regulated trading to US users.
The partnership assigns OG.com infrastructure and clearing responsibilities for Robinhood’s retail event contracts through its CFTC-regulated exchange and clearinghouse.
The Ninth Circuit upheld Nevada’s enforcement against Kalshi, rejecting federal financial regulation as protection from state gambling laws.