Robinhood Counters State’s Lawsuit Over Sports-Betting Statute

Robinhood filed swimsuit towards Massachusetts regulators on Monday, claiming the state couldn’t take into account its “occasion contracts” to be unlawful sports-betting. The monetary companies firm argued that the follow is preempted by federal legislation and that the Commodity Futures Buying and selling Fee (CFTC) has “unique jurisdiction” over transactions involving occasion contracts. The swimsuit names Massachusetts Lawyer Normal Andrea Pleasure Campbell, the Massachusetts Gaming Fee and a number of of its commissioners as defendants.