Robinhood Suspends Bet Offer for Super Bowl After CFTC Request
Robinhood Markets has temporarily halted its Super Bowl betting offering after receiving a request from the Commodity Futures Trading Commission (CFTC), only one day after it was launched.
The product was rolled out in collaboration with prediction market Kalshi, allowing users to wager on the outcome of the Super Bowl taking place on February 9, featuring the Philadelphia Eagles and the Kansas City Chiefs. However, on February 4, 2025, Robinhood declared it would pause the rollout of this feature to work with the CFTC on regulatory issues.
Limited Availability of Betting Feature
The Super Bowl betting feature was available to only 1% of Robinhood’s customer base, with reports indicating some had begun placing bets prior to its suspension.
“We are disappointed by this outcome, especially given that we had been in regular communication with the CFTC about our intent and plans to offer this product,” Robinhood stated.
This suspension comes as the CFTC reportedly investigates Crypto.com and Kalshi regarding their compliance with derivatives regulations related to Super Bowl betting contracts.
Robinhood’s Previous Settlements
Last month, Robinhood settled with the U.S. Securities and Exchange Commission (SEC) for $45 million due to violations of several securities law provisions, impacting its broker-dealer subsidiaries.
The suspension of the Super Bowl betting feature illustrates ongoing regulatory scrutiny and challenges for Robinhood as it navigates new market offerings.
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