Robinhood agreed with Nevada’s Gaming Control Board to stop offering new sports event contracts in the state while court proceedings continue. The restriction starts on 1 December; Robinhood said it disagrees with the court’s decision and intends to appeal.
The agreement limits Robinhood’s sports event contracts for Nevada customers while the dispute continues.
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A Nevada federal judge denied Crypto.com’s request to block the Nevada Gaming Control Board’s order, requiring the company to stop offering sports markets to Nevada users from Monday. Judge Andrew P. Gordon ruled that the markets fall under state gambling law; Crypto.com plans to appeal to the Ninth Circuit.
Kalshi has asked a Washington State Superior Court to reconsider a preliminary injunction covering its sports event contracts. The request cites new legal developments, but the available report gives no further details.
A Connecticut judge denied Kalshi's motion for a preliminary injunction. Judge Vernon D. Oliver ruled that sports-event contracts are not swaps under the Commodity Exchange Act and compared parlays with casino gaming.
Crypto.com-owned North American Derivatives Exchange, doing business as OG, sued Washington state officials in federal court on 22 July, seeking declaratory and injunctive relief. The company alleges that state enforcement of gambling laws threatens its sports event contracts, which it says operate under the Commodity Futures Trading Commission’s jurisdiction.
King County Superior Court Judge John McHale granted a preliminary injunction against Kalshi, finding Washington was likely to succeed in its claims that the platform’s sports-related event contracts violate state gambling laws. The injunction is not due to take effect before 5 August, and the court directed the parties to submit proposed terms by 3 August. Kalshi said it disagreed with the court’s interpretation.