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Political Bets Are Allowed, but Not Sports: Robinhood Halts Super Bowl Event Contracts
Robinhood (Nasdaq: HOOD) has suspended offering Super Bowl event contracts only a day after listing them, following a request from the Commodity Futures Trading Commission (CFTC). Event Contracts Are Not Allowed In a statement published yesterday (Tuesday), the trading platform revealed that the US regulator had formally requested that Robinhood Derivatives, which offers such contracts, must “not permit customers to access” sports event contracts. Robinhood has about 24.3 million customers globally. However, according to the firm, it rolled out the Super Bowl event contracts to only 1 per cent of its customers. ... (full story)