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Robinhood seeks to block Massachusetts regulation of sports event contracts

Regulation

Robinhood asked a federal judge to stop Massachusetts from enforcing its gaming rules against the company’s sports prediction business. The company argues that the contracts it offers through Kalshi and ForecastEx fall under the CFTC’s exclusive authority; the court reopened its case earlier this month after its expanded ForecastEx partnership.

The case may determine whether Massachusetts can enforce gaming rules against Robinhood’s sports event contracts.

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Ninth Circuit hears tribes’ bid to block Kalshi sports contracts on reservations

Three California tribes asked the Ninth Circuit on 10 June to revive their bid to stop Kalshi offering sports-event contracts on their lands while their lawsuit proceeds. Kalshi argues its exchange falls under federal commodities law, while the tribes say the contracts amount to unauthorised sports betting under the Indian Gaming Regulatory Act; the appeal challenges a lower court’s denial of an injunction.

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