Massachusetts opposes Robinhood bid to block gambling-law enforcement
Massachusetts filed a brief opposing Robinhood’s request for a preliminary injunction against state enforcement involving its event-based trading products. The state argued that federal law does not displace its authority over gambling and sports-related contracts; Robinhood says its sports-outcome contracts fall under the CFTC’s jurisdiction. The filing also cited a Nevada case involving Crypto.com.
The court’s decision could affect whether states can enforce wagering rules against prediction-market products.