Texas-based users are about to buy and trade contracts on the outcomes of various events, including the upcoming Super Bowl.

Robinhood Markets Inc. is getting in on the sports event contracts craze, offering retail investors the opportunity to place trades on the outcome of Sunday’s Super Bowl.

Crypto.com and Kalshi need to provide more information to the US CFTC to determine if their Super Bowl event contracts comply with derivatives regulations.

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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.

The event-contract market has been growing since Kalshi won the right to offer them last fall. Robinhood is the latest entry.

Some customers will be able to wager on the outcome of the Chiefs vs the Eagles in Robinhood's first foray into sports betting.

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,