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Robinhood challenges Massachusetts authority over event-contract trading

Regulation

Robinhood sued Massachusetts Attorney General Andrea Joy Campbell and the Massachusetts Gaming Commission, seeking to prevent the state from applying gambling laws to event contracts on its platform. The company argues federal commodities law gives the CFTC authority over the contracts; Massachusetts has separately sued Kalshi, alleging unlicensed sports wagering.

The competing cases may determine whether event contracts offered through Robinhood face Massachusetts gambling-law restrictions.

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CFTC issues staff guidance on listing and trading event contracts

The US Commodity Futures Trading Commission issued an advisory on 12 March providing staff guidance on the listing and trading of event contracts. The agency said the guidance was intended for market participants, legal counsel and other stakeholders; it was the CFTC’s first staff guidance on the topic since chairman Michael Selig’s confirmation in December.

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