Robinhood, March Madness
Digest more
Top News
Overview
Madness office betting pool doesn’t quite scratch your itch for action, Robinhood’s (HOOD) got you covered. This week, the broker launched a prediction markets trading platform in the Robinhood app, e...
From Yahoo Finance
Four teams remain in the men's NCAA Tournament, and they happen to be the best four teams in the nation.
From Fox News
Read more on News Digest
The first weekend of the Big Dance is over, and there are just 16 teams left. Brackets have been busted, and Robinhood Markets Inc. might be busted too.
There are plenty of ways to wager money on who will win the NCAA basketball tournaments — now you can make bets in the same place you buy stocks or crypto.
4d
Front Office Sports on MSNRobinhood Takes Down New Jersey March Madness MarketsNew Jersey regulators sent a cease-and-desist letter. The post Robinhood Takes Down New Jersey March Madness Markets appeared first on Front Office Sports.
Massachusetts' top securities regulator has begun an investigation into trading platform Robinhood's decision to launch a prediction-markets hub that allows users to bet on the outcomes of a range of events,
Robinhood is under investigation from Massachusetts securities regulators over its March Madness prediction market offering.
Kalshi is striking back against New Jersey and Nevada. After recently being ordered to stop offering sports prediction markets in New Jersey and Nevada, financial exchange platform Kalshi announced lawsuits against the two states on Monday.
As Robinhood faces an investigation from Massachusetts regulators over its recently launched sports prediction markets for March Madness college basketball games, financial advisors are understanding of their wealthy clients seeking DIY (do-it-yourself) investment platforms, but request transparency across accounts.
That led New Jersey’s Department of Gaming Enforcement and the Nevada Gaming Commission to serve Kalshi to block its service within the state’s borders. That led to Robinhood blocking predictions for users in New Jersey, where this weekend’s East Regional tournament was played.
Robinhood's partnership with Kalshi, which offers betting-style futures trading has caught the attention of Massachusetts regulators, who are launching an investigation into the practice.
Massachusetts Secretary of State Bill Galvin said he was concerned Robinhood was "linking a gambling event on a popular sports event that's especially popular to young people to a brokerage account."