Robinhood is the second sports-related event contract provider to withdraw its offerings from Michigan after Kalshi
Robinhood Derivatives has become the second sports-event contract platform to withdraw its offering from Michigan amid ongoing litigation.
Robinhood has agreed to stop offering new sports-related event contracts to Michigan customers on Wednesday, and to close out any remaining customer positions by October 9, under a court-approved agreement.
The agreement marks another step forward in the Michigan Gaming Control Board (MGCB)’s ongoing effort to ensure that sports wagering products are offered only through operators licensed and regulated under state law.
“This agreement is another win for Michigan consumers,” said MGCB executive director Henry Williams. “Sports wagering products should only be offered by operators who are licensed, regulated, and held accountable under Michigan law.
“We’re pleased Robinhood has agreed to step back from offering these unregulated products while the courts continue to sort out the broader legal questions, and we’ll keep working with the Attorney General’s office to make sure Michigan consumers are protected.”
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