Robinhood Markets Inc. said it received a formal request from the Commodity Futures Trading Commission to suspend its offerings for traders to place bets on the outcomes of the Feb. 9 Super Bowl game.

Robinhood said on Tuesday it is rolling back the event contracts that would let users bet on the result of the Super Bowl clash this weekend, after the online brokerage received a request from the U.S.

The regulator's probe is focused on the issue of sports being considered gaming, said New York-based crypto lawyer Aaron Brogan.