Robinhood Discontinues Agreements for Partnership Events with Kalshi
**May 2, 2025: A Rollercoaster Week for U.S. iGaming Industry 🎲
The guts and glamour of the US iGaming world got a whirlwind this week, with Mississippi lawmakers coming down hard on sweepstakes operators, and now the spotlight's shining bright on event contracts, Robinhood, and the CFTC.
Pin the tail on the donkey, Robinhood suspended its event contract product just a day after launching. Yeah, you heard it right – they've pulled the plug on the community's Super Bowl LIX speculation extravaganza.
Event Contract betting mania with Kalshi 🤑
Robinhood hooked up with Kalshi, the trailblazer in the red-hot event contract and prediction betting scene. But alas, following a request from the CFTC, the whole shebang got placed on ice.
Event contracts, baby, are raking in some serious attention these days – thanks to the likeable Kalshi, mind you. With a structure not unlike standard betting, the twist is, rather than throwing down your dough on odds or win/loss scenarios, you're trading contracts based on the probability of an outcome. These bad boys fluctuate in value as they get sold and bought, making it easy for you to score big – or take a bath – just like trading real stocks.
Pump up the Kalshi 🎶In December 2024, both Robinhood and Kalshi offered bets on the 2024 presidential election's outcome. But let's be real, Kalshi's legal bling could've been a safer bet for Robinhood, considering Kalshi's done the time with the CFTC and had their seal of approval.
Unfortunately for them, Robinhood's had to take a knee, and the decision to halt operations was announced in a blog post where they wrote:
"We're ballin' with the CFTC to get a grip on their concerns, so we're suspending the rollout of the Pro Football Championship market. We got this baby out to around 1% of our customers, and for the bleeding-edge bettors who've already placed bets, we're giving them the option to cut their losses or ride it out."
Super Bowl LIX Contracts at Kalshi 🚀
Despite Robinhood's abrupt exit, Kalshi's still throwing punches at Super Bowl LIX with contract betting, alongside half-time singing contests and New York City's weather forecast for the upcoming month. Numbers don't lie – Kalshi's facilitated more than $3 million in bets on the Super Bowl itself, with the young brand's fame spreading like wildfire.
Meet the man behind the action – Daniel Craymer 📝
Daniel Craymer, our resident sports editor and die-hard bettor, dives headfirst into the ever-evolving gambling scene, testing new platforms and sharing his betting predictions, always on the lookout for good deals. His cautious, methodical approach to sports betting and judicious use of tools may help less experienced gamblers find a fingers-crossed strategies path to victory.
- The suspension of Robinhood's event contract product, launched just a day prior, has left the community's Super Bowl LIX speculation in limbo, as the company seeks to address concerns raised by the Commodity Futures Trading Commission (CFTC).
- Despite Robinhood's recent setback, Kalshi continues to thrive in the event contract and prediction betting scene, offering contract betting for Super Bowl LIX, along with half-time singing contests and New York City's weather forecast for the upcoming month.
- Kalshi, being a trailblazer in the industry, has already facilitated more than $3 million in bets on the Super Bowl itself, and their fame continues to grow exponentially.
