Massachusetts Regulator Opens Investigation Into Robinhood’s Sports Betting Feature
Posted On March 25, 2025
Massachusetts’ top securities watchdog has opened an investigation into Robinhood‘s (NASDAQ:HOOD) latest venture—a prediction markets tool letting users wager on outcomes like college basketball games.
The state’s Secretary of State, Bill Galvin, is digging into whether the trading app’s new feature blurs the line between investing and gambling, especially for younger users hooked on sports, Reuters reported on Tuesday.
Galvin’s office fired off a subpoena to Robinhood last week, seeking details on how the service and how many locals are betting on hoops tournaments.
Galvin also voiced concerns the platform may tie brokerage accounts to what he …
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