US Prediction-Market Jurisdiction Fight Heads to Supreme Court, Robinhood Faces Service Cuts
HOOD Robinhood Markets Inc
$106.99 +3.36%
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- 1New Jersey has petitioned the U.S. Supreme Court to overturn a Third Circuit ruling that favored prediction-market platform Kalshi.
- 2Meanwhile, the Ninth Circuit ruled that Robinhood Markets' (HOOD) sports contracts are not swaps under federal commodities law, allowing Nevada gambling regulations to apply.
- 3Robinhood, which earned $156 million in that segment in Q2, would suspend services in some states if adverse rulings continue.
This 3-line summary is compiled from the report below.
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