Sports & Business news site Front Office Sports is reporting that US neobroker Robinhood had removed its “NCAA Tournament prediction markets” offering in New Jersey, under pressure (and a cease and desist letter it received) from state gaming regulators.
We had reported earlier this month that Robinhood (NASDAQ:HOOD) was launching what amounts to full fledged sports betting, via CFTC regulated event contacts offered by KalshiEX LLC, a CFTC regulated exchange. The first product to be offered was betting on the annual “March Madness” US College Basketball championship – one of the more heavily bet events in the sports world.
That…
Read More
