Robinhood said on Tuesday it had received a formal request from the U.S. Commodity Futures Trading Commission to roll back its Super Bowl betting contracts product. The trading platform had launched the event contracts on Monday to let U.

The US Commodity Futures Trading Commission has reportedly asked Crypto.com and predictions market Kalshi to explain how their Super Bowl events contracts comply with derivatives regulations. “We are continuing to review the contracts in accordance with our regulations,

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.

Robinhood Markets has suspended Super Bowl betting after receiving a request from the Commodities and Futures Trading Commission to nix its customers’ access to the event contracts. The halt comes just a day after Robinhood launched the product in partnership with prediction market Kalishi,

Robinhood said on Tuesday it had suspended trading in Super Bowl betting contracts after the brokerage received a request from the U.S. Commodity Futures Trading Commission. "We are heeding their directive to cease offering these contracts despite the fact that the CFTC has not deemed Kalshi's football championship contracts illegal,