Michigan Attorney General Dana Nessel has secured a temporary restraining order in the Ingham County Circuit Court halting KalshiEx, LLC from unlawfully offering online sports wagers.
Robinhood Derivatives, LLC and Robinhood Markets, Inc. have a filed their response to the motion by three Indian tribes for a preliminary injunction against Kalshi.
Since first launching prediction markets at the end of last year there have been more than 2 billion contracts traded on Robinhood.
Robinhood earlier this year also pulled a Super Bowl event contract, following regulator pressure.
The College Basketball Tournament and target fed fund rate event contracts will be tradeable daily on Robinhood from 8am to 3am ET.
For those who already placed trades, Robinhood plans on providing the option to close their positions or take them to resolution.
Robinhood is launching event contracts for the upcoming Kansas City vs. Philadelphia championship game through Robinhood Derivatives LLC.
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