Robinhood is considering acquisitions in prediction markets, the company’s vice-president and general manager of futures and international, JB Mackenzie, said. He said the firm would pursue an opportunity if it found one that suited its needs; no specific target was identified.
A potential acquisition could bring Robinhood further into prediction markets, but the company has not named a target.
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PredictIt chief strategy officer Flip Pidot said the US Supreme Court could consider the prediction market jurisdiction dispute by June next year. He based that assessment on potentially conflicting appeals court rulings as the CFTC and state authorities dispute oversight of event contracts.
New Jersey has sought more time to ask the US Supreme Court to review a federal appeals court ruling in Kalshi’s prediction-markets case, according to local reporting. The 3rd US Circuit Court of Appeals ruled in April that state gaming regulators could not enforce their order against Kalshi’s sports event contracts; the state’s request for Supreme Court review remains prospective.
Maryland Elections Administrator Jared DeMarinis said election-based prediction markets are under review and that he may refer suspected illegal activity to the state prosecutor. He described wagers on election outcomes as bets; Maryland law does not permit election betting, the source said. Governor Wes Moore’s April executive order separately barred state employees from using non-public information for financial gain through prediction markets.
Kalshi filed a federal lawsuit on 11 March against Iowa Attorney General Brenna Bird and the Iowa Racing and Gaming Commission, seeking to prevent future enforcement against its event contracts. The company alleges that officials may pursue action, but the source describes no enforcement measure already taken; Kalshi seeks a permanent injunction and declaratory relief while state lawmakers consider regulating and taxing prediction-market operators.
Prediction market operators including Kalshi and Robinhood face legal disputes with several states, with a Supreme Court resolution described as a likely possibility by lawyer Andrew Kim. A court review could come as early as mid-2026 or as late as 2029, while the timing and outcome remain uncertain.