Robinhood Scals Back on Contracts for Collaborative Events with Kalshi
Hey there! May 2, 2025 Buckle up, folks, it's been a wild week for the US iGaming industry! It seems Mississippi lawmakers have locked horns with sweepstakes operators, but let's divert our attention to Robinhood and the CFTC. drama for a minute.
So, Robinhood, fresh off its launch, has pumped the brakes on its event contract product, designed to let traders gamble on the Super Bowl LIX outcome. They teamed up with Kalshi, the big cheese in the event contract and prediction betting universe, but had to take a break due to pressure from the Commodity Futures Trading Commission (CFTC).
Kalshi – where they offer the chance to speculate on everything under the sun. This fast-growing prediction sports betting platform allows traders to purchase or sell contracts based on the likelihood of an outcome – similar to trading real stocks. If you're keen, you can nab yourself $10 bonus by signing up (check out the review to learn more)!
But how does it all work? Traditionally, event contracts have been a way to hedge against financial market events. Kalshi, approved by the CFTC to offer these contracts, has found itself under the CFTC's microscope recently, with questions revolving around the legality of its Super Bowl product under derivatives laws. The team at Kalshi is currently collaborating with the CFTC to resolve these concerns and expand their product portfolio.
Last year, both Robinhood and Kalshi offered event contracts on the outcome of the 2024 presidential election, with only Kalshi having prior CFTC approval. A partnership, while seemingly a safer bet for Robinhood, unfortunately led to issues with the CFTC on the latest collaboration, and the result was an announcement that they would suspend their rollout for the Pro Football Championship market.
Kalshi, however, is still going strong on its own platform, offering event contracts for this year's Super Bowl, as well as other tantalizing predictions like if Kendrick Lamar will sing certain songs at half-time, or if it'll snow in New York City this month! The young company has already facilitated over $3 million in trades on the outcome of the Super Bowl game, giving them a major boost in publicity.
Daniel Craymer, our resident sports editor and enthusiastic gambler, keeps a close watch on these platforms to share his betting predictions and good deals with fellow sports bettors. He advocates carefully learning to refine your sports betting strategy.
Stay tuned for more iGaming updates! Remember, always gamble responsibly, and happy betting!
Technology has revolutionized the way people place bets, with platforms like Kalshi offering prediction sports betting based on the likelihood of an outcome, similar to trading real stocks. Despite Robinhood's collaboration with Kalshi, they faced pressure from the Commodity Futures Trading Commission (CFTC) and had to suspend their event contract product, gamble on the Super Bowl LIX outcome. Daniel Craymer, our sports editor, encourages learning and refining your sports betting strategy to make informed technology-assisted bets.
